Johnson Financial Group Inc. Has $221,000 Stake in ResMed Inc. (RMD)
Johnson Financial Group Inc. continued to hold its stake in ResMed Inc. (NYSE:RMD) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,835 shares of the medical equipment provider’s stock at the close of the second quarter. Johnson Financial Group Inc.’s holdings in ResMed were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of RMD. Toronto Dominion Bank boosted its stake in ResMed by 26.6% during the 1st quarter. Toronto Dominion Bank now owns 1,543 shares of the medical equipment provider’s stock valued at $111,000 after purchasing an additional 324 shares in the last quarter. Creative Planning boosted its stake in 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 in the last quarter. Van ECK Associates Corp boosted its stake in ResMed by 7.5% during the 1st quarter. Van ECK Associates Corp now owns 1,945 shares of the medical equipment provider’s stock valued at $140,000 after purchasing an additional 136 shares in the last quarter. Huntington National Bank bought a new position in ResMed during the 2nd quarter valued at $156,000. Finally, Morgan Dempsey Capital Management LLC boosted its stake in ResMed by 2.3% during the 1st quarter. Morgan Dempsey Capital Management LLC now owns 2,189 shares of the medical equipment provider’s stock valued at $158,000 after purchasing an additional 50 shares in the last quarter. 60.25% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the company. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Thursday, July 6th. Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a research note on Friday. Citigroup Inc. raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 2nd. Credit Suisse Group lowered ResMed from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub raised ResMed from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $67.86.
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In other ResMed news, Director Gary W. Pace sold 24,390 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $76.00, for a total transaction of $1,853,640.00. Following the completion of the sale, the director now owns 99,317 shares in the company, valued at approximately $7,548,092. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard Sulpizio sold 65,887 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $77.82, for a total transaction of $5,127,326.34. Following the sale, the director now owns 4,429 shares of the company’s stock, valued at approximately $344,664.78. The disclosure for this sale can be found here. Insiders have sold a total of 204,649 shares of company stock valued at $15,635,958 in the last quarter. Corporate insiders own 1.97% of the company’s stock.
ResMed Inc. (NYSE RMD) traded up 1.29% during midday trading on Friday, hitting $79.84. The stock had a trading volume of 557,663 shares. The stock’s 50-day moving average is $75.36 and its 200-day moving average is $73.06. ResMed Inc. has a one year low of $56.59 and a one year high of $80.38. The company has a market cap of $11.35 billion, a P/E ratio of 33.27 and a beta of 0.79.
ResMed (NYSE:RMD) last issued its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, beating the 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 net margin of 16.56% and a return on equity of 21.99%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. Equities analysts predict that ResMed Inc. will post $3.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 17th will be given a dividend of $0.35 per share. This is a boost from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.75%. ResMed’s payout ratio is presently 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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