Magnetar Financial LLC Purchases New Position in ResMed Inc. (RMD)
Magnetar Financial LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 19,376 shares of the medical equipment provider’s stock, valued at approximately $1,491,000.
Several other institutional investors have also recently added to or reduced their stakes in RMD. Creative Planning boosted its stake in shares of ResMed by 97.1% during the 2nd quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock worth $130,000 after purchasing an additional 823 shares during the last quarter. Strs Ohio boosted its stake in shares of ResMed by 2.5% during the 2nd quarter. Strs Ohio now owns 21,436 shares of the medical equipment provider’s stock worth $1,669,000 after purchasing an additional 523 shares during the last quarter. NGAM Advisors L.P. boosted its stake in shares of ResMed by 3.4% during the 2nd quarter. NGAM Advisors L.P. now owns 15,507 shares of the medical equipment provider’s stock worth $1,208,000 after purchasing an additional 504 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of ResMed by 6.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 15,459 shares of the medical equipment provider’s stock worth $1,204,000 after purchasing an additional 935 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of ResMed by 9.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the medical equipment provider’s stock worth $327,000 after purchasing an additional 350 shares during the last quarter. 62.02% of the stock is currently owned by institutional investors.
RMD has been the topic of several analyst reports. BMO Capital Markets raised their price target on shares of ResMed from $70.00 to $74.00 and gave the stock a “market perform” rating in a research note on Friday, October 27th. Needham & Company LLC reissued a “sell” rating on shares of ResMed in a research report on Friday, October 27th. Zacks Investment Research cut shares of ResMed from a “buy” rating to a “sell” rating in a research report on Tuesday, October 24th. J P Morgan Chase & Co raised their target price on shares of ResMed from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Finally, Barclays raised their target price on shares of ResMed from $68.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, October 27th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $67.57.
ResMed Inc. (NYSE RMD) traded up $0.60 during midday trading on Friday, reaching $86.37. 546,820 shares of the company traded hands, compared to its average volume of 552,324. ResMed Inc. has a 52-week low of $60.13 and a 52-week high of $87.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.72 and a quick ratio of 3.86. The stock has a market capitalization of $12,171.10, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 1.91 and a beta of 0.78.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. ResMed had a net margin of 16.58% and a return on equity of 21.53%. The firm had revenue of $523.66 million for the quarter, compared to analyst estimates of $506.08 million. During the same quarter last year, the firm posted $0.62 earnings per share. ResMed’s revenue for the quarter was up 12.5% compared to the same quarter last year. sell-side analysts anticipate 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. Investors of record on Thursday, November 9th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $1.40 annualized dividend and a yield of 1.62%. ResMed’s payout ratio is 56.68%.
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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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