Athos Capital Ltd Buys Shares of 8,689 ResMed Inc. (RMD)
Athos Capital Ltd bought a new stake in shares of ResMed Inc. (NYSE:RMD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,689 shares of the medical equipment provider’s stock, valued at approximately $677,000. ResMed makes up approximately 0.4% of Athos Capital Ltd’s portfolio, making the stock its 26th largest position.
Other large investors also recently made changes to their positions in the company. Toronto Dominion Bank increased its stake in shares of ResMed by 26.6% in the first quarter. Toronto Dominion Bank now owns 1,543 shares of the medical equipment provider’s stock valued at $111,000 after buying an additional 324 shares during the last quarter. Creative Planning increased its stake in shares of 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 buying an additional 823 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of ResMed by 7.5% in the first quarter. Van ECK Associates Corp now owns 1,945 shares of the medical equipment provider’s stock valued at $140,000 after buying an additional 136 shares during the last quarter. Huntington National Bank bought a new stake in shares of ResMed during the second quarter valued at approximately $156,000. Finally, Morgan Dempsey Capital Management LLC increased its stake in shares of ResMed by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,189 shares of the medical equipment provider’s stock valued at $158,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 60.68% of the company’s stock.
Shares of ResMed Inc. (NYSE RMD) opened at 74.12 on Thursday. ResMed Inc. has a 52 week low of $56.59 and a 52 week high of $79.63. The firm’s 50-day moving average price is $76.83 and its 200-day moving average price is $72.20. The firm has a market cap of $10.54 billion, a price-to-earnings ratio of 30.88 and a beta of 0.83.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The firm had revenue of $556.69 million during the quarter, compared to analysts’ expectations of $557.68 million. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 EPS. Equities research analysts expect that ResMed Inc. will post $3.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 17th will be issued a $0.35 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 15th. This represents a $1.40 annualized dividend and a yield of 1.89%. ResMed’s dividend payout ratio is 54.77%.
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Several brokerages recently commented on RMD. BMO Capital Markets raised their target price on ResMed from $61.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, August 2nd. Credit Suisse Group downgraded ResMed from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 2nd. Needham & Company LLC reiterated a “sell” rating on shares of ResMed in a report on Wednesday, August 2nd. Zacks Investment Research downgraded ResMed from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Bank of America Corporation downgraded ResMed from a “buy” rating to a “neutral” rating in a report on Wednesday, August 2nd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. ResMed presently has a consensus rating of “Hold” and an average target price of $65.63.
In other ResMed news, Director Peter C. Farrell sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $75.15, for a total value of $1,503,000.00. Following the completion of the transaction, the director now owns 321,557 shares of the company’s stock, valued at approximately $24,165,008.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jr. Gregor K. Emmert purchased 424,000 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was purchased at an average cost of $0.06 per share, with a total value of $25,440.00. In the last ninety days, insiders sold 180,260 shares of company stock valued at $13,715,644. Insiders own 1.97% of the company’s stock.
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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