Fmr LLC Has $836.13 Million Position in ResMed Inc. (RMD)
Fmr LLC decreased its position in shares of ResMed Inc. (NYSE:RMD) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,072,299 shares of the medical equipment provider’s stock after selling 15,059 shares during the period. Fmr LLC owned about 5.66% of ResMed worth $836,130,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dupont Capital Management Corp acquired a new stake in shares of ResMed during the 1st quarter worth approximately $121,000. Meeder Asset Management Inc. acquired a new stake in shares of ResMed during the 2nd quarter worth approximately $131,000. Cornerstone Wealth Management LLC acquired a new stake in shares of ResMed during the 2nd quarter worth approximately $167,000. Piedmont Investment Advisors LLC acquired a new stake in shares of ResMed during the 2nd quarter worth approximately $167,000. Finally, Zeke Capital Advisors LLC bought a new position in ResMed in the 2nd quarter valued at approximately $207,000. Institutional investors and hedge funds own 63.79% of the company’s stock.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of ResMed from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Goldman Sachs Group assumed coverage on shares of ResMed in a research note on Sunday, July 1st. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. ResMed currently has a consensus rating of “Hold” and an average price target of $77.33.
Shares of NYSE:RMD opened at $112.40 on Friday. The company has a market capitalization of $15.80 billion, a P/E ratio of 31.84, a P/E/G ratio of 2.85 and a beta of 0.89. The company has a quick ratio of 1.56, a current ratio of 2.08 and a debt-to-equity ratio of 0.13. ResMed Inc. has a one year low of $74.87 and a one year high of $112.80.
ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 2nd. The medical equipment provider reported $0.95 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.95. The business had revenue of $623.63 million during the quarter, compared to the consensus estimate of $622.78 million. ResMed had a net margin of 13.49% and a return on equity of 24.74%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 EPS. research analysts forecast that ResMed Inc. will post 3.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 20th. Investors of record on Thursday, August 16th will be paid a $0.37 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $1.48 annualized dividend and a yield of 1.32%. ResMed’s dividend payout ratio is presently 41.93%.
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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