Tudor Investment Corp ET AL Sells 16,512 Shares of ResMed Inc. (RMD)
Tudor Investment Corp ET AL lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 67.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,983 shares of the medical equipment provider’s stock after selling 16,512 shares during the period. Tudor Investment Corp ET AL’s holdings in ResMed were worth $622,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RMD. YorkBridge Wealth Partners LLC lifted its stake in shares of ResMed by 4.9% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock valued at $115,000 after purchasing an additional 69 shares during the last quarter. Creative Planning lifted its stake in shares of ResMed by 97.1% in 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 during the last quarter. Van ECK Associates Corp lifted its stake in shares of ResMed by 7.5% in 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 during the last quarter. Huntington National Bank acquired a new position in shares of ResMed in the 2nd quarter valued at $156,000. Finally, Pacer Advisors Inc. lifted its stake in shares of ResMed by 3.0% in the 1st quarter. Pacer Advisors Inc. now owns 2,699 shares of the medical equipment provider’s stock valued at $194,000 after purchasing an additional 79 shares during the last quarter. 60.08% of the stock is currently owned by institutional investors.
RMD has been the topic of several recent analyst reports. BidaskClub raised ResMed from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Thursday, July 6th. Bank of America Corporation lowered ResMed from a “buy” rating to a “neutral” 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, Citigroup Inc. raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. ResMed presently has an average rating of “Hold” and an average price target of $68.50.
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In related news, insider David Pendarvis sold 6,364 shares of ResMed stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $72.10, for a total value of $458,844.40. Following the transaction, the insider now owns 84,476 shares in the company, valued at $6,090,719.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Hollingshead sold 7,140 shares of ResMed stock in a transaction on Friday, July 14th. The shares were sold at an average price of $77.43, for a total value of $552,850.20. The disclosure for this sale can be found here. Insiders sold 114,372 shares of company stock worth $8,662,032 in the last quarter. 1.77% of the stock is owned by insiders.
Shares of ResMed Inc. (NYSE:RMD) opened at 77.25 on Monday. The stock has a market cap of $10.99 billion, a P/E ratio of 32.19 and a beta of 0.77. ResMed Inc. has a 12-month low of $56.59 and a 12-month high of $81.87. The company has a 50 day moving average price of $77.16 and a 200 day moving average price of $73.98.
ResMed (NYSE:RMD) last issued its earnings results 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 return on equity of 21.99% and a net margin of 16.56%. The firm had revenue of $556.69 million for the quarter, compared to analysts’ expectations of $557.68 million. During the same quarter last year, the firm earned $0.74 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts anticipate that ResMed Inc. will post $3.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Thursday, August 17th were issued a $0.35 dividend. The ex-dividend date was Tuesday, August 15th. This represents a $1.40 dividend on an annualized basis and a yield of 1.81%. This is a boost from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio (DPR) 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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