CIBC World Markets Inc. raised its stake in shares of ResMed Inc. (NYSE:RMD) by 114.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,035 shares of the medical equipment provider’s stock after buying an additional 3,216 shares during the quarter. CIBC World Markets Inc.’s holdings in ResMed were worth $625,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Dupont Capital Management Corp purchased a new position in ResMed during the 1st quarter valued at about $121,000. Meeder Asset Management Inc. purchased a new position in ResMed during the 2nd quarter valued at about $131,000. Piedmont Investment Advisors LLC purchased a new position in ResMed during the 2nd quarter valued at about $167,000. Cornerstone Wealth Management LLC purchased a new position in ResMed during the 2nd quarter valued at about $167,000. Finally, Zeke Capital Advisors LLC purchased a new position in ResMed during the 2nd quarter valued at about $207,000. 63.79% of the stock is owned by institutional investors and hedge funds.

A number of research firms have weighed in on RMD. Zacks Investment Research lowered ResMed from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Goldman Sachs Group began coverage on ResMed in a report on Sunday, July 1st. They set a “buy” rating for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. ResMed presently has an average rating of “Hold” and an average target price of $77.33.

In related news, insider David Pendarvis sold 2,810 shares of the business’s stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $103.75, for a total value of $291,537.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brett Sandercock sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $106.76, for a total value of $213,520.00. Following the completion of the sale, the chief financial officer now owns 67,072 shares of the company’s stock, valued at approximately $7,160,606.72. The disclosure for this sale can be found here. Insiders have sold 12,820 shares of company stock valued at $1,361,638 in the last three months. 1.77% of the stock is owned by insiders.

Shares of NYSE RMD opened at $112.40 on Friday. ResMed Inc. has a 12 month low of $74.87 and a 12 month high of $112.80. The company has a quick ratio of 1.56, a current ratio of 2.08 and a debt-to-equity ratio of 0.13. The stock has a market cap of $15.80 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 2.85 and a beta of 0.89.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 2nd. The medical equipment provider reported $0.95 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.95. ResMed had a return on equity of 24.74% and a net margin of 13.49%. The company had revenue of $623.63 million during the quarter, compared to analyst estimates of $622.78 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. ResMed’s revenue was up 12.0% on a year-over-year basis. sell-side analysts anticipate that ResMed Inc. will post 3.66 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 20th. Stockholders of record on Thursday, August 16th will be issued a dividend of $0.37 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.35. The ex-dividend date is Wednesday, August 15th. This represents a $1.48 annualized dividend and a dividend yield of 1.32%. ResMed’s payout ratio is presently 41.93%.

About ResMed

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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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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