ResMed Inc. (RMD) Position Maintained by Bright Rock Capital Management LLC
Bright Rock Capital Management LLC continued to hold its 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. The fund owned 20,000 shares of the medical equipment provider’s stock at the end of the second quarter. Bright Rock Capital Management LLC’s holdings in ResMed were worth $1,557,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI boosted its stake in shares of ResMed by 0.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,238 shares of the medical equipment provider’s stock worth $377,000 after buying an additional 14 shares during the period. Morgan Dempsey Capital Management LLC boosted 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 worth $158,000 after buying an additional 50 shares during the period. Intrust Bank NA boosted its stake in shares of ResMed by 1.0% in the first quarter. Intrust Bank NA now owns 7,101 shares of the medical equipment provider’s stock worth $511,000 after buying an additional 73 shares during the period. Pacer Advisors Inc. boosted its stake in shares of ResMed by 3.0% in the first quarter. Pacer Advisors Inc. now owns 2,699 shares of the medical equipment provider’s stock worth $194,000 after buying an additional 79 shares during the period. Finally, Atria Investments LLC boosted its stake in shares of ResMed by 1.9% in the first quarter. Atria Investments LLC now owns 4,564 shares of the medical equipment provider’s stock worth $328,000 after buying an additional 83 shares during the period. 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. The firm has a 50-day moving average of $76.83 and a 200 day moving average of $72.20. The firm has a market cap of $10.53 billion, a PE ratio of 30.88 and a beta of 0.83. ResMed Inc. has a 52-week low of $56.59 and a 52-week high of $79.63.
ResMed (NYSE:RMD) last released its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.02. ResMed had a return on equity of 21.99% and a net margin of 16.56%. 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 firm posted $0.74 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts predict that ResMed Inc. will post $3.03 earnings per share for the current year.
The company 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 $0.35 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.89%. This is an increase from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio is currently 54.77%.
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A number of brokerages recently issued reports on RMD. J P Morgan Chase & Co cut shares of ResMed from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $72.00 to $71.00 in a research report on Thursday, April 20th. BMO Capital Markets reiterated a “hold” rating on shares of ResMed in a research report on Friday, May 12th. Zacks Investment Research cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Credit Suisse Group cut shares of ResMed from an “outperform” rating to a “neutral” rating in a research report on Tuesday. Finally, Jefferies Group LLC restated a “sell” rating and issued a $56.00 price objective on shares of ResMed in a research report on Friday, April 28th. Four investment 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. The stock presently has an average rating of “Hold” and a consensus target price of $65.63.
In other news, CFO Brett Sandercock sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $71.02, for a total value of $88,775.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David Pendarvis sold 6,365 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $72.62, for a total value of $462,226.30. Following the completion of the transaction, 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. Insiders sold 180,260 shares of company stock valued at $13,715,644 in the last ninety days. 1.97% of the stock is currently owned by insiders.
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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