ING Groep NV Acquires New Position in ResMed Inc. (RMD)
ING Groep NV acquired a new position in shares of ResMed Inc. (NYSE:RMD) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,090 shares of the medical equipment provider’s stock, valued at approximately $392,000.
Other institutional investors also recently added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC increased its stake in shares of ResMed by 4.9% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 69 shares in the last quarter. Creative Planning increased its stake in shares of ResMed by 97.1% in the second quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock valued at $130,000 after buying an additional 823 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of ResMed by 12.8% in the second quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock valued at $135,000 after buying an additional 197 shares in the last quarter. BB&T Investment Services Inc. acquired a new stake in shares of ResMed in the second quarter valued at $214,000. Finally, Pacer Advisors Inc. increased its stake in shares of ResMed by 8.3% in the second quarter. Pacer Advisors Inc. now owns 2,924 shares of the medical equipment provider’s stock valued at $228,000 after buying an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 62.01% of the company’s stock.
Several equities analysts recently issued reports on RMD shares. Northland Securities reiterated a “sell” rating and issued a $55.00 price target on shares of ResMed in a report on Friday, October 27th. Zacks Investment Research upgraded ResMed from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Bank of America cut ResMed from a “buy” rating to a “neutral” rating in a report on Wednesday, August 2nd. Credit Suisse Group cut ResMed from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 8th. Finally, Barclays raised their price target on ResMed from $65.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, September 25th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $67.57.
ResMed Inc. (NYSE RMD) traded up $0.06 during trading on Thursday, reaching $85.25. The company had a trading volume of 406,400 shares, compared to its average volume of 855,398. The company has a market capitalization of $12,088.79, a PE ratio of 29.68, a price-to-earnings-growth ratio of 1.89 and a beta of 0.79. ResMed Inc. has a fifty-two week low of $58.71 and a fifty-two week high of $87.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.86 and a current ratio of 4.72.
ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.66. ResMed had a return on equity of 21.53% and a net margin of 16.58%. The firm had revenue of $523.66 million for the quarter, compared to analysts’ expectations of $506.08 million. During the same quarter last year, the business earned $0.62 earnings per share. The company’s revenue was up 12.5% compared to the same quarter last year. research analysts predict that ResMed Inc. will post 3 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 9th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Wednesday, November 8th. ResMed’s dividend payout ratio (DPR) is currently 56.68%.
In other news, Director Peter C. Farrell sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $76.74, for a total transaction of $1,534,800.00. Following the sale, the director now owns 314,800 shares of the company’s stock, valued at $24,157,752. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James Hollingshead sold 7,019 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $84.16, for a total value of $590,719.04. Following the sale, the insider now directly owns 66,409 shares in the company, valued at approximately $5,588,981.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,253 shares of company stock worth $16,930,356. Company insiders own 1.77% of the company’s stock.
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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