ResMed Inc. (RMD) Shares Sold by Cigna Investments Inc. New
Cigna Investments Inc. New decreased its stake in shares of ResMed Inc. (NYSE:RMD) by 6.0% during the second quarter, Holdings Channel reports. The institutional investor owned 5,554 shares of the medical equipment provider’s stock after selling 357 shares during the period. Cigna Investments Inc. New’s holdings in ResMed were worth $432,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Airain ltd bought a new stake in ResMed during the first quarter valued at $1,242,000. Dai Ichi Life Insurance Company Ltd acquired a new position in shares of ResMed during the first quarter worth approximately $205,000. Geode Capital Management LLC increased its position in shares of ResMed by 5.5% in the first quarter. Geode Capital Management LLC now owns 1,176,810 shares of the medical equipment provider’s stock worth $84,667,000 after buying an additional 61,478 shares during the period. Wealthsource Partners LLC increased its position in shares of ResMed by 14.5% in the first quarter. Wealthsource Partners LLC now owns 8,230 shares of the medical equipment provider’s stock worth $592,000 after buying an additional 1,045 shares during the period. Finally, Achmea Investment Management B.V. acquired a new position in shares of ResMed during the first quarter worth approximately $785,000. 60.66% of the stock is owned by hedge funds and other institutional investors.
ResMed Inc. (NYSE:RMD) opened at 72.79 on Friday. The stock has a market capitalization of $10.35 billion, a price-to-earnings ratio of 30.33 and a beta of 0.83. ResMed Inc. has a 12-month low of $56.59 and a 12-month high of $79.63. The firm has a 50-day moving average of $75.98 and a 200 day moving average of $72.38.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.02. ResMed had a net margin of 16.56% and a return on equity of 21.99%. The business had revenue of $556.69 million for the quarter, compared to analyst estimates of $557.68 million. During the same period last year, the business earned $0.74 EPS. The company’s revenue was up 7.3% on a year-over-year basis. On average, analysts predict that ResMed Inc. will post $3.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders 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 dividend yield of 1.92%. This is a positive change from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 15th. ResMed’s dividend payout ratio (DPR) is presently 58.09%.
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A number of equities analysts recently commented on the stock. J P Morgan Chase & Co downgraded shares of ResMed from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $72.00 to $71.00 in a research note on Thursday, April 20th. BMO Capital Markets reissued a “hold” rating on shares of ResMed in a research note on Friday, May 12th. Zacks Investment Research downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Credit Suisse Group downgraded shares of ResMed from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 8th. Finally, Jefferies Group LLC reissued a “sell” rating and issued a $56.00 price objective on shares of ResMed in a research note on Friday, April 28th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $65.63.
In related news, insider Jr. Gregor K. Emmert purchased 424,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were purchased at an average cost of $0.06 per share, for a total transaction of $25,440.00. Also, CFO Brett Sandercock sold 1,250 shares of ResMed stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $71.02, for a total transaction of $88,775.00. The disclosure for this sale can be found here. Insiders sold a total of 204,650 shares of company stock worth $15,516,845 over the last 90 days. Company insiders own 1.97% 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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