ResMed Inc. (NYSE:RMD) Shares Bought by Creative Planning
Creative Planning raised its position in ResMed Inc. (NYSE:RMD) by 97.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,671 shares of the medical equipment provider’s stock after buying an additional 823 shares during the period. Creative Planning’s holdings in ResMed were worth $130,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its position in shares of ResMed by 5,439.8% in the first quarter. BlackRock Inc. now owns 13,335,138 shares of the medical equipment provider’s stock worth $959,731,000 after buying an additional 13,094,421 shares during the period. Vanguard Group Inc. raised its position in shares of ResMed by 4.6% in the first quarter. Vanguard Group Inc. now owns 11,535,707 shares of the medical equipment provider’s stock worth $830,225,000 after buying an additional 508,392 shares during the period. State Street Corp raised its position in shares of ResMed by 2.1% in the first quarter. State Street Corp now owns 4,598,911 shares of the medical equipment provider’s stock worth $330,983,000 after buying an additional 95,552 shares during the period. FMR LLC raised its position in shares of ResMed by 1.9% in the first quarter. FMR LLC now owns 4,010,810 shares of the medical equipment provider’s stock worth $288,659,000 after buying an additional 74,389 shares during the period. Finally, Morgan Stanley raised its position in shares of ResMed by 69.1% in the first quarter. Morgan Stanley now owns 1,344,234 shares of the medical equipment provider’s stock worth $96,744,000 after buying an additional 549,279 shares during the period. Institutional investors own 60.66% of the company’s stock.
ResMed Inc. (RMD) traded up 0.88% during mid-day trading on Monday, hitting $73.20. The stock had a trading volume of 86,673 shares. The stock’s 50 day moving average price is $76.52 and its 200 day moving average price is $72.27. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of 30.50 and a beta of 0.83. ResMed Inc. has a one year low of $56.59 and a one year high of $79.63.
ResMed (NYSE:RMD) last released its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.02. The company had revenue of $556.69 million during the quarter, compared to analysts’ expectations of $557.68 million. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. Analysts forecast that ResMed Inc. will post $3.03 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 17th will be issued a dividend of $0.35 per share. This is a boost from ResMed’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.93%. The ex-dividend date is Tuesday, August 15th. ResMed’s dividend payout ratio (DPR) is presently 54.77%.
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A number of research analysts have recently commented on RMD shares. J P Morgan Chase & Co lowered ResMed from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $72.00 to $71.00 in a report on Thursday, April 20th. 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. Finally, Zacks Investment Research lowered ResMed from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $65.63.
In related news, Director Richard Sulpizio sold 65,887 shares of ResMed stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $77.82, for a total transaction of $5,127,326.34. Following the completion of the sale, the director now directly owns 4,429 shares of the company’s stock, valued at approximately $344,664.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Brett Sandercock sold 1,250 shares of ResMed stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $71.02, for a total value of $88,775.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 204,650 shares of company stock valued at $15,516,845. 1.97% of the stock is currently owned by 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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