QS Investors LLC Has $529,000 Position in ResMed Inc. (RMD)
QS Investors LLC held its stake in shares of ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,797 shares of the medical equipment provider’s stock at the end of the 2nd quarter. QS Investors LLC’s holdings in ResMed were worth $529,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Creative Planning increased its position in shares of ResMed by 97.1% during the 2nd quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock valued at $130,000 after purchasing an additional 823 shares during the last quarter. Huntington National Bank purchased a new stake in ResMed in the 2nd quarter worth about $156,000. Nomura Holdings Inc. purchased a new stake in ResMed in the 1st quarter worth about $201,000. HM Payson & Co. purchased a new stake in ResMed in the 1st quarter worth about $202,000. Finally, Pacer Advisors Inc. increased its holdings in ResMed by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,924 shares of the medical equipment provider’s stock worth $228,000 after acquiring an additional 225 shares during the last quarter. 60.10% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Peter C. Farrell sold 20,000 shares of the stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $77.01, for a total transaction of $1,540,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $77.49, for a total value of $96,862.50. Following the sale, the chief financial officer now owns 59,258 shares of the company’s stock, valued at approximately $4,591,902.42. The disclosure for this sale can be found here. Insiders have sold 107,232 shares of company stock valued at $8,109,182 in the last quarter. 1.77% of the stock is currently owned by company insiders.
RMD has been the subject of several recent research reports. Bank of America Corporation lowered ResMed from a “buy” rating to a “neutral” rating in a report on Wednesday, August 2nd. Credit Suisse Group lowered ResMed from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 8th. BidaskClub lowered ResMed from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Barclays PLC lifted their price objective on ResMed from $65.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, September 25th. Finally, BMO Capital Markets lifted their price objective on ResMed from $61.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. ResMed has a consensus rating of “Hold” and a consensus target price of $68.33.
ResMed Inc. (RMD) opened at 77.63 on Monday. The firm has a 50-day moving average price of $77.70 and a 200 day moving average price of $74.20. ResMed Inc. has a 52 week low of $56.59 and a 52 week high of $81.87. The company has a market cap of $11.04 billion, a P/E ratio of 32.35 and a beta of 0.77.
ResMed (NYSE:RMD) last released its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The firm had revenue of $556.69 million during the quarter, compared to analysts’ expectations of $557.68 million. During the same quarter last year, the business posted $0.74 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. Analysts expect that ResMed Inc. will post $3.06 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Thursday, August 17th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.80%. This is a boost from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio (DPR) is currently 58.09%.
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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