ResMed Inc. (RMD) Stake Raised by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC increased its stake in ResMed Inc. (NYSE:RMD) by 6.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,459 shares of the medical equipment provider’s stock after buying an additional 935 shares during the period. Janney Montgomery Scott LLC’s holdings in ResMed were worth $1,204,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of RMD. Airain ltd bought a new stake in ResMed during the first quarter valued at about $1,242,000. Dai Ichi Life Insurance Company Ltd bought a new stake in ResMed during the first quarter valued at about $205,000. Geode Capital Management LLC increased 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 increased 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. increased 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 60.68% of the company’s stock.
ResMed Inc. (NYSE RMD) opened at 72.56 on Friday. The stock has a market cap of $10.32 billion, a PE ratio of 30.23 and a beta of 0.83. The firm’s 50-day moving average price is $76.52 and its 200 day moving average price is $72.27. ResMed Inc. has a 1-year low of $56.59 and a 1-year high of $79.63.
ResMed (NYSE:RMD) last released its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.02. The company had revenue of $556.69 million for the quarter, compared to analyst estimates of $557.68 million. ResMed had a return on equity of 21.99% and a net margin of 16.56%. ResMed’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. Equities research analysts expect that ResMed Inc. will post $3.03 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.93%. This is a positive change from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio (DPR) is currently 54.77%.
RMD has been the topic of several recent analyst reports. BidaskClub upgraded ResMed from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Citigroup Inc. downgraded ResMed from a “buy” rating to a “neutral” rating in a report on Friday, April 28th. Zacks Investment Research upgraded ResMed from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Needham & Company LLC restated a “sell” rating on shares of ResMed in a report on Wednesday, August 2nd. Finally, Credit Suisse Group downgraded ResMed from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 2nd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. ResMed has a consensus rating of “Hold” and a consensus target price of $65.63.
In other news, Director Peter C. Farrell sold 20,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $75.15, for a total transaction of $1,503,000.00. Following the sale, the director now owns 321,557 shares of the company’s stock, valued at $24,165,008.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard Sulpizio sold 65,887 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $77.82, for a total value of $5,127,326.34. Following the sale, the director now directly owns 4,429 shares in the company, valued at approximately $344,664.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 204,650 shares of company stock worth $15,516,845. 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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