KBC Group NV Has $2.44 Million Stake in ResMed Inc. (RMD)
KBC Group NV increased its position in ResMed Inc. (NYSE:RMD) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,550 shares of the medical equipment provider’s stock after buying an additional 1,048 shares during the period. KBC Group NV’s holdings in ResMed were worth $2,440,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Raymond James & Associates purchased a new position in shares of ResMed during the fourth quarter valued at approximately $1,012,000. Daiwa Securities Group Inc. boosted its position in shares of ResMed by 15.4% during the first quarter. Daiwa Securities Group Inc. now owns 4,937 shares of the medical equipment provider’s stock valued at $486,000 after buying an additional 657 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its position in shares of ResMed by 328.1% during the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 29,161 shares of the medical equipment provider’s stock valued at $2,795,000 after buying an additional 22,350 shares during the last quarter. Dupont Capital Management Corp purchased a new position in shares of ResMed during the first quarter valued at approximately $121,000. Finally, Commerzbank Aktiengesellschaft FI boosted its position in shares of ResMed by 24.5% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 3,031 shares of the medical equipment provider’s stock valued at $298,000 after buying an additional 597 shares during the last quarter. 62.68% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the company. Zacks Investment Research raised ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. UBS Group cut ResMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 24th. Finally, Goldman Sachs Group assumed coverage on ResMed in a research report on Sunday, July 1st. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. ResMed currently has an average rating of “Hold” and a consensus target price of $77.33.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 2nd. The medical equipment provider reported $0.95 earnings per share 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 business had revenue of $623.63 million for the quarter, compared to analysts’ expectations of $622.78 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. research analysts predict that ResMed Inc. will post 3.66 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 20th. Shareholders of record on Thursday, August 16th will be given a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $1.48 annualized dividend and a yield of 1.39%. This is a boost from ResMed’s previous quarterly dividend of $0.35. ResMed’s payout ratio is currently 41.93%.
In other ResMed news, CFO Brett Sandercock sold 2,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 67,072 shares in the company, valued at $7,160,606.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David Pendarvis sold 2,810 shares of the business’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $103.75, for a total value of $291,537.50. The disclosure for this sale can be found here. In the last three months, insiders sold 41,823 shares of company stock worth $4,342,578. Insiders own 1.77% of the company’s stock.
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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