New Mexico Educational Retirement Board Acquires Shares of 13,200 ResMed Inc. (RMD)
New Mexico Educational Retirement Board acquired a new stake in ResMed Inc. (NYSE:RMD) during the second quarter, Holdings Channel reports. The fund acquired 13,200 shares of the medical equipment provider’s stock, valued at approximately $1,018,000.
A number of other large investors have also recently added to or reduced their stakes in RMD. Airain ltd purchased a new stake in ResMed during the first quarter valued at about $1,242,000. Dai Ichi Life Insurance Company Ltd purchased a new stake in ResMed during the first quarter valued at about $205,000. Geode Capital Management LLC boosted its stake in ResMed by 5.5% in the first quarter. Geode Capital Management LLC now owns 1,176,810 shares of the medical equipment provider’s stock valued at $84,667,000 after buying an additional 61,478 shares during the last quarter. Wealthsource Partners LLC boosted its stake in ResMed by 14.5% in the first quarter. Wealthsource Partners LLC now owns 8,230 shares of the medical equipment provider’s stock valued at $592,000 after buying an additional 1,045 shares during the last quarter. Finally, American Research & Management Co. boosted its stake in ResMed by 3.2% in the first quarter. American Research & Management Co. now owns 11,340 shares of the medical equipment provider’s stock valued at $816,000 after buying an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 60.66% of the company’s stock.
Shares of ResMed Inc. (NYSE RMD) opened at 73.62 on Tuesday. The firm has a market capitalization of $10.47 billion, a PE ratio of 30.67 and a beta of 0.83. ResMed Inc. has a 12 month low of $56.59 and a 12 month high of $79.63. The firm’s 50 day moving average is $76.38 and its 200-day moving average is $72.34.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.02. ResMed had a net margin of 16.56% and a return on equity of 21.99%. The company had revenue of $556.69 million during the quarter, compared to the consensus estimate of $557.68 million. During the same quarter in the prior year, the company posted $0.74 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts expect that ResMed Inc. will post $3.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, August 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.90%. This is an increase from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio is currently 54.77%.
Several equities research analysts recently issued reports on RMD shares. BidaskClub upgraded shares of ResMed from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Citigroup Inc. cut shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Friday, April 28th. Zacks Investment Research upgraded shares of ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Needham & Company LLC reiterated a “sell” rating on shares of ResMed in a research report on Wednesday, August 2nd. Finally, Credit Suisse Group cut shares of ResMed from an “outperform” rating to a “neutral” rating in a research report on Wednesday, August 2nd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. ResMed presently has a consensus rating of “Hold” and a consensus target price of $65.63.
In related news, Director Richard Sulpizio sold 24,390 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $73.85, for a total transaction of $1,801,201.50. Following the completion of the sale, the director now owns 28,819 shares of the company’s stock, valued at approximately $2,128,283.15. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Pendarvis sold 6,365 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $72.62, for a total transaction of $462,226.30. Following the sale, the insider now directly owns 84,477 shares of the company’s stock, valued at approximately $6,134,719.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 204,650 shares of company stock valued at $15,516,845. Corporate insiders own 1.97% of the company’s stock.
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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