ResMed Inc. (RMD) Shares Sold by Pacad Investment Ltd.
Pacad Investment Ltd. trimmed its holdings in shares of ResMed Inc. (NYSE:RMD) by 87.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,200 shares of the medical equipment provider’s stock after selling 15,118 shares during the period. Pacad Investment Ltd.’s holdings in ResMed were worth $171,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. grew its holdings in ResMed by 5,439.8% during the first quarter. BlackRock Inc. now owns 13,335,138 shares of the medical equipment provider’s stock worth $959,731,000 after acquiring an additional 13,094,421 shares during the period. Morgan Stanley grew its holdings in ResMed by 69.1% during the first quarter. Morgan Stanley now owns 1,344,234 shares of the medical equipment provider’s stock worth $96,744,000 after acquiring an additional 549,279 shares during the period. Vanguard Group Inc. grew its holdings in ResMed by 4.6% during the first quarter. Vanguard Group Inc. now owns 11,535,707 shares of the medical equipment provider’s stock worth $830,225,000 after acquiring an additional 508,392 shares during the period. First Trust Advisors LP grew its holdings in ResMed by 191.8% during the second quarter. First Trust Advisors LP now owns 350,012 shares of the medical equipment provider’s stock worth $27,255,000 after acquiring an additional 230,056 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in ResMed during the first quarter worth about $12,790,000. 60.25% of the stock is currently owned by institutional investors.
ResMed Inc. (RMD) opened at 80.54 on Friday. The company has a 50 day moving average price of $75.73 and a 200-day moving average price of $73.30. ResMed Inc. has a 52-week low of $56.59 and a 52-week high of $81.87. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 33.56 and a beta of 0.79.
ResMed (NYSE:RMD) last released its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $556.69 million during the quarter, compared to the consensus estimate of $557.68 million. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 earnings per share. Equities research analysts anticipate that ResMed Inc. will post $3.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 17th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Tuesday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio is currently 58.09%.
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In related news, Director Richard Sulpizio sold 65,887 shares of the company’s 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 completion of the sale, the director now owns 4,429 shares in the company, valued at $344,664.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jr. Gregor K. Emmert acquired 424,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was bought at an average price of $0.06 per share, with a total value of $25,440.00. Insiders sold 180,259 shares of company stock valued at $13,782,318 in the last quarter. 1.97% of the stock is currently owned by corporate insiders.
A number of research firms recently issued reports on RMD. Credit Suisse Group lowered ResMed from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 8th. Zacks Investment Research lowered ResMed from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Citigroup Inc. raised ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, August 2nd. 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 report on Wednesday, August 2nd. Finally, Bank of America Corporation lowered ResMed from a “buy” rating to a “neutral” rating in a report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $67.86.
ResMed Company Profile
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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