Kalmar Investments Inc. DE Cuts Stake in ResMed Inc. (RMD)
Kalmar Investments Inc. DE cut its stake in shares of ResMed Inc. (NYSE:RMD) by 5.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 459,864 shares of the company’s stock after selling 25,630 shares during the period. ResMed comprises 1.3% of Kalmar Investments Inc. DE’s investment portfolio, making the stock its 25th largest position. Kalmar Investments Inc. DE’s holdings in ResMed were worth $29,077,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new stake in ResMed during the first quarter valued at $2,828,000. Scotia Capital Inc. acquired a new stake in shares of ResMed during the first quarter worth approximately $510,000. State Street Corp boosted its stake in shares of ResMed by 1.7% in the first quarter. State Street Corp now owns 4,477,796 shares of the company’s stock worth $258,909,000 after buying an additional 76,862 shares during the period. Matthews International Capital Management LLC boosted its stake in shares of ResMed by 18,735.4% in the first quarter. Matthews International Capital Management LLC now owns 1,224,300 shares of the company’s stock worth $70,789,000 after buying an additional 1,217,800 shares during the period. Finally, BB&T Securities LLC acquired a new stake in shares of ResMed during the first quarter worth approximately $268,000. Institutional investors and hedge funds own 60.95% of the company’s stock.
Shares of ResMed Inc. (NYSE:RMD) traded up 1.26% during trading on Tuesday, reaching $64.99. The company’s stock had a trading volume of 551,518 shares. 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 $9.14 billion, a PE ratio of 26.10 and a beta of 0.68. The firm’s 50-day moving average is $65.00 and its 200-day moving average is $62.87.
ResMed (NYSE:RMD) last released its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. ResMed had a return on equity of 23.89% and a net margin of 18.63%. The business had revenue of $518.60 million for the quarter, compared to analyst estimates of $512.37 million. During the same quarter last year, the firm posted $0.68 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. Equities analysts expect that ResMed Inc. will post $2.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, August 18th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $1.32 annualized dividend and a dividend yield of 2.03%. This is a positive change from ResMed’s previous quarterly dividend of $0.30. ResMed’s dividend payout ratio (DPR) is currently 54.32%.
A number of brokerages have recently commented on RMD. Jefferies Group cut shares of ResMed from a “hold” rating to an “underperform” rating and dropped their target price for the company from $60.00 to $58.00 in a report on Tuesday, August 23rd. Northland Securities set a $50.00 target price on shares of ResMed and gave the company a “sell” rating in a report on Monday, August 29th. Barclays PLC restated an “underweight” rating and set a $55.00 target price on shares of ResMed in a report on Friday, August 26th. Needham & Company LLC restated an “underperform” rating on shares of ResMed in a report on Tuesday, August 30th. Finally, Zacks Investment Research upgraded shares of ResMed from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. ResMed has an average rating of “Hold” and a consensus target price of C$60.44.
In other news, Director Peter C. Farrell sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of C$69.16, for a total transaction of C$1,383,200.00. Following the transaction, the director now owns 367,978 shares in the company, valued at C$25,449,358.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Pendarvis sold 6,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of C$68.86, for a total value of C$413,160.00. Following the transaction, the insider now owns 80,512 shares in the company, valued at approximately C$5,544,056.32. The disclosure for this sale can be found here. 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.
Want to see what other hedge funds are holding RMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ResMed Inc. (NYSE:RMD).
Receive News & Ratings for ResMed Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed Inc. and related companies with MarketBeat.com's FREE daily email newsletter.