ResMed Inc. (RMD) Shares Bought by Nissay Asset Management Corp Japan ADV
Nissay Asset Management Corp Japan ADV increased its stake in ResMed Inc. (NYSE:RMD) by 25.9% during the 2nd quarter, Holdings Channel reports. The firm owned 37,519 shares of the medical equipment provider’s stock after purchasing an additional 7,725 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in ResMed were worth $3,886,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of RMD. Dupont Capital Management Corp bought a new position in shares of ResMed in the first quarter worth approximately $121,000. Meeder Asset Management Inc. bought a new position in shares of ResMed in the second quarter worth approximately $131,000. Cornerstone Wealth Management LLC bought a new position in shares of ResMed in the second quarter worth approximately $167,000. Piedmont Investment Advisors LLC bought a new position in shares of ResMed in the second quarter worth approximately $167,000. Finally, Zeke Capital Advisors LLC bought a new position in shares of ResMed in the second quarter worth approximately $207,000. Institutional investors own 62.68% of the company’s stock.
In other ResMed news, CFO Brett Sandercock sold 2,000 shares of the stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $109.01, for a total transaction of $218,020.00. Following the transaction, the chief financial officer now directly owns 65,072 shares in the company, valued at $7,093,498.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Sulpizio sold 28,403 shares of the stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $102.78, for a total transaction of $2,919,260.34. Following the transaction, the director now owns 35,823 shares in the company, valued at $3,681,887.94. The disclosure for this sale can be found here. Insiders have sold 41,823 shares of company stock worth $4,342,578 over the last quarter. Company insiders own 1.77% of the company’s stock.
ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, August 2nd. The medical equipment provider reported $0.95 EPS for the quarter, meeting analysts’ consensus estimates of $0.95. ResMed had a net margin of 13.49% and a return on equity of 24.74%. The business had revenue of $623.63 million for the quarter, compared to analysts’ expectations of $622.78 million. During the same period last year, the business earned $0.77 earnings per share. The business’s quarterly revenue was up 12.0% on a year-over-year basis. sell-side analysts predict that ResMed Inc. will post 3.66 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 20th. Shareholders of record on Thursday, August 16th will be given a dividend of $0.37 per share. This is a boost from ResMed’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, August 15th. ResMed’s dividend payout ratio (DPR) is presently 41.93%.
RMD has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research report on Friday, May 25th. Goldman Sachs Group initiated coverage on shares of ResMed in a research report on Sunday, July 1st. They issued a “buy” rating on the stock. Finally, UBS Group cut shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $77.33.
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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