ResMed Inc. (RMD) Stake Lessened by Halsey Associates Inc. CT
Halsey Associates Inc. CT reduced its holdings in shares of ResMed Inc. (NYSE:RMD) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 203,695 shares of the medical equipment provider’s stock after selling 9,136 shares during the quarter. ResMed accounts for about 3.1% of Halsey Associates Inc. CT’s holdings, making the stock its 9th biggest position. Halsey Associates Inc. CT owned approximately 0.14% of ResMed worth $15,676,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC boosted its holdings in ResMed by 4.9% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock worth $115,000 after purchasing an additional 69 shares during the last quarter. Creative Planning boosted its stake in ResMed by 97.1% in the second quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock valued at $130,000 after acquiring an additional 823 shares during the last quarter. Toronto Dominion Bank boosted its stake in ResMed by 12.8% in the second quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock valued at $135,000 after acquiring an additional 197 shares during the last quarter. Huntington National Bank purchased a new position in ResMed in the second quarter valued at about $156,000. Finally, BB&T Investment Services Inc. purchased a new position in ResMed in the second quarter valued at about $214,000. Institutional investors and hedge funds own 60.38% of the company’s stock.
ResMed Inc. (NYSE RMD) traded down $0.35 during midday trading on Monday, hitting $84.63. 459,400 shares of the stock traded hands, compared to its average volume of 867,633. ResMed Inc. has a one year low of $57.45 and a one year high of $87.81. The company has a current ratio of 4.72, a quick ratio of 3.86 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $12,009.33, a price-to-earnings ratio of 29.49, a P/E/G ratio of 1.88 and a beta of 0.79.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. ResMed had a net margin of 16.58% and a return on equity of 21.53%. The company had revenue of $523.66 million for the quarter, compared to analyst estimates of $506.08 million. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. equities research analysts expect that ResMed Inc. will post 3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 9th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Wednesday, November 8th. ResMed’s dividend payout ratio (DPR) is currently 56.68%.
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A number of research analysts have weighed in on the stock. Credit Suisse Group cut shares of ResMed from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 8th. Zacks Investment Research cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Northland Securities reiterated a “sell” rating and issued a $55.00 target price on shares of ResMed in a research note on Friday, October 27th. Jefferies Group LLC reiterated a “sell” rating and issued a $56.00 target price on shares of ResMed in a research note on Thursday, October 12th. Finally, BMO Capital Markets boosted their target price on shares of ResMed from $61.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, August 2nd. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. ResMed currently has a consensus rating of “Hold” and an average price target of $67.57.
In related news, Director Peter C. Farrell sold 118,392 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $82.70, for a total transaction of $9,791,018.40. Following the sale, the director now owns 306,615 shares of the company’s stock, valued at approximately $25,357,060.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Pendarvis sold 6,364 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $77.21, for a total transaction of $491,364.44. Following the sale, the insider now directly owns 93,172 shares in the company, valued at approximately $7,193,810.12. The disclosure for this sale can be found here. Insiders have sold a total of 201,234 shares of company stock worth $16,339,637 in the last ninety days. 1.77% 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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