Barrett Asset Management LLC Has $117,000 Position in ResMed Inc. (NYSE:RMD)
Barrett Asset Management LLC held its stake in ResMed Inc. (NYSE:RMD) during the second quarter, Holdings Channel reports. The firm owned 1,500 shares of the medical equipment provider’s stock at the end of the second quarter. Barrett Asset Management LLC’s holdings in ResMed were worth $117,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Callahan Advisors LLC increased its stake in ResMed by 82.7% in the second quarter. Callahan Advisors LLC now owns 13,110 shares of the medical equipment provider’s stock valued at $1,021,000 after buying an additional 5,935 shares during the period. Crestwood Advisors Group LLC increased its stake in ResMed by 0.9% in the second quarter. Crestwood Advisors Group LLC now owns 209,889 shares of the medical equipment provider’s stock valued at $16,244,000 after buying an additional 1,946 shares during the period. Texas Permanent School Fund increased its stake in ResMed by 1.0% in the second quarter. Texas Permanent School Fund now owns 103,543 shares of the medical equipment provider’s stock valued at $8,063,000 after buying an additional 981 shares during the period. World Asset Management Inc increased its stake in ResMed by 2.4% in the second quarter. World Asset Management Inc now owns 10,670 shares of the medical equipment provider’s stock valued at $831,000 after buying an additional 247 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in ResMed by 9.1% in the second quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the medical equipment provider’s stock valued at $327,000 after buying an additional 350 shares during the period. Institutional investors and hedge funds own 60.68% of the company’s stock.
ResMed Inc. (NYSE RMD) opened at 74.40 on Wednesday. The stock’s 50 day moving average price is $77.14 and its 200 day moving average price is $71.90. The stock has a market cap of $10.57 billion, a price-to-earnings ratio of 31.00 and a beta of 0.83. ResMed Inc. has a 52 week low of $56.59 and a 52 week high of $79.63.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $556.69 million for the quarter, compared to analyst estimates of $557.68 million. ResMed had a return on equity of 21.99% and a net margin of 16.56%. ResMed’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 EPS. On average, analysts forecast that ResMed Inc. will post $3.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 17th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.40 dividend on an annualized basis and a yield of 1.88%. This is a positive change from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio (DPR) is currently 54.77%.
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Several analysts have recently weighed in on the company. Credit Suisse Group downgraded ResMed from an “outperform” rating to a “neutral” rating in a research report on Tuesday. Zacks Investment Research downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. BMO Capital Markets lifted their target price on ResMed from $61.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 2nd. Needham & Company LLC reiterated a “sell” rating on shares of ResMed in a research report on Wednesday, August 2nd. Finally, Citigroup Inc. upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 2nd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $65.63.
In other news, Director Richard Sulpizio sold 65,887 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $77.82, for a total value of $5,127,326.34. Following the transaction, the director now owns 4,429 shares in the company, valued at approximately $344,664.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 20,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $75.15, for a total value of $1,503,000.00. Following the completion of the transaction, the director now owns 321,557 shares in the company, valued at approximately $24,165,008.55. The disclosure for this sale can be found here. Insiders sold a total of 180,260 shares of company stock worth $13,715,644 in the last ninety days. 1.97% of the stock is owned by corporate insiders.
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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