Strs Ohio Increases Stake in ResMed Inc. (RMD)
Strs Ohio boosted its stake in ResMed Inc. (NYSE:RMD) by 34.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,090 shares of the company’s stock after buying an additional 4,162 shares during the period. Strs Ohio’s holdings in ResMed were worth $1,017,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CIBC World Markets Inc. bought a new position in shares of ResMed during the first quarter worth approximately $264,000. BB&T Securities LLC bought a new position in shares of ResMed during the first quarter worth approximately $268,000. Financial Architects Inc raised its position in shares of ResMed by 13.8% in the second quarter. Financial Architects Inc now owns 4,550 shares of the company’s stock worth $288,000 after buying an additional 550 shares during the period. BlueMountain Capital Management LLC bought a new position in shares of ResMed during the first quarter worth approximately $293,000. Finally, Bayesian Capital Management LP bought a new position in shares of ResMed during the first quarter worth approximately $426,000. Institutional investors own 60.99% of the company’s stock.
Shares of ResMed Inc. (NYSE:RMD) traded up 1.25% during trading on Friday, reaching $64.65. 971,375 shares of the company traded hands. The firm’s 50-day moving average is $65.14 and its 200-day moving average is $62.74. ResMed Inc. has a 12-month low of $50.77 and a 12-month high of $70.90. The stock has a market capitalization of $9.10 billion, a PE ratio of 25.96 and a beta of 0.68.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. ResMed had a net margin of 18.63% and a return on equity of 23.89%. The business earned $518.60 million during the quarter, compared to the consensus estimate of $512.37 million. During the same quarter last year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities analysts predict that ResMed Inc. will post $2.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 18th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Tuesday, August 16th. This is an increase from ResMed’s previous quarterly dividend of $0.30. ResMed’s dividend payout ratio (DPR) is 54.32%.
RMD has been the topic of a number of research reports. Needham & Company LLC lowered shares of ResMed from a “hold” rating to an “underperform” rating in a research note on Monday, June 27th. Zacks Investment Research lowered shares of ResMed from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Bank of America Corp. reiterated a “hold” rating and issued a $65.00 price target on shares of ResMed in a research note on Sunday, July 10th. Canaccord Genuity reissued a “hold” rating and issued a $57.00 price objective on shares of ResMed in a report on Monday, July 25th. Finally, Jefferies Group boosted their price objective on shares of ResMed from $56.00 to $60.00 and gave the company a “hold” rating in a report on Friday, July 29th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of C$60.44.
In related news, Director Peter C. Farrell sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of C$64.70, for a total transaction of C$1,294,000.00. Following the completion of the sale, the director now owns 364,063 shares in the company, valued at C$23,554,876.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Sulpizio sold 36,000 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of C$70.15, for a total transaction of C$2,525,400.00. Following the sale, the director now owns 101,887 shares of the company’s stock, valued at approximately C$7,147,373.05. The disclosure for this sale can be found here. Corporate insiders own 1.97% of the company’s stock.
ResMed Company Profile
ResMed Inc is engaged in the development, manufacturing, distribution and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing (SDB). The Company develops various products for SDB and other respiratory disorders, including airflow generators, diagnostic products, mask systems, headgear and other accessories.
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