Kalmar Investments Inc. DE Cuts Stake in ResMed Inc. (RMD)
Kalmar Investments Inc. DE lowered its position in ResMed Inc. (NYSE:RMD) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 459,864 shares of the company’s stock after selling 25,630 shares during the period. ResMed comprises about 1.3% of Kalmar Investments Inc. DE’s portfolio, making the stock its 25th largest position. Kalmar Investments Inc. DE owned about 0.33% of ResMed worth $29,077,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of RMD. Aperio Group LLC raised its stake in ResMed by 27.7% in the first quarter. Aperio Group LLC now owns 35,053 shares of the company’s stock worth $2,027,000 after buying an additional 7,597 shares in the last quarter. Ngam Advisors L.P. bought a new position in shares of ResMed during the first quarter valued at about $1,080,000. Teachers Advisors Inc. raised its position in shares of ResMed by 32.0% in the first quarter. Teachers Advisors Inc. now owns 280,218 shares of the company’s stock valued at $16,202,000 after buying an additional 67,854 shares in the last quarter. BlackRock Inc. raised its position in shares of ResMed by 24.4% in the first quarter. BlackRock Inc. now owns 188,207 shares of the company’s stock valued at $10,882,000 after buying an additional 36,971 shares in the last quarter. Finally, BlackRock Group LTD raised its position in shares of ResMed by 3.8% in the first quarter. BlackRock Group LTD now owns 520,284 shares of the company’s stock valued at $30,082,000 after buying an additional 19,230 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ResMed Inc. (NYSE:RMD) traded up 1.26% during mid-day trading on Tuesday, hitting $64.99. 551,518 shares of the stock traded hands. The company has a market capitalization of $9.14 billion, a PE ratio of 26.10 and a beta of 0.68. ResMed Inc. has a 1-year low of $50.77 and a 1-year high of $70.90. The company’s 50-day moving average price is $65.00 and its 200 day moving average price is $62.87.
ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $518.60 million for the quarter, compared to analysts’ expectations of $512.37 million. ResMed had a net margin of 18.63% and a return on equity of 23.89%. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 earnings per share. Equities research analysts forecast that ResMed Inc. will post $2.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 18th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $1.32 annualized dividend and a yield of 2.03%. This is a boost from ResMed’s previous quarterly dividend of $0.30. ResMed’s payout ratio is 54.32%.
RMD has been the topic of several research analyst reports. Needham & Company LLC reissued a “sell” rating on shares of ResMed in a research note on Monday, September 12th. Jefferies Group increased their target price on shares of ResMed from $56.00 to $60.00 and gave the stock a “hold” rating in a research note on Friday, July 29th. Northland Securities set a $50.00 target price on shares of ResMed and gave the stock a “sell” rating in a research note on Monday, August 29th. JPMorgan Chase & Co. lowered shares of ResMed from an “overweight” rating to a “neutral” rating in a research note on Monday, September 19th. Finally, Bank of America Corp. reissued a “hold” rating and set a $65.00 target price on shares of ResMed in a research note on Sunday, July 10th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. ResMed currently has a consensus rating of “Hold” and an average target price of C$60.44.
In related news, CEO Michael J. Farrell sold 5,975 shares of ResMed stock in a transaction on Monday, August 15th. The shares were sold at an average price of C$70.41, for a total value of C$420,699.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ronald R. Taylor purchased 2,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was bought at an average price of C$69.13 per share, for a total transaction of C$171,926.31. Following the acquisition, the director now owns 16,729 shares of the company’s stock, valued at C$1,156,475.77. The disclosure for this purchase can be found here. 1.97% of the stock is currently owned by corporate insiders.
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.
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