Profund Advisors LLC reduced its holdings in shares of ResMed Inc. (NYSE:RMD) by 23.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,067 shares of the medical equipment provider’s stock after selling 5,421 shares during the quarter. Profund Advisors LLC’s holdings in ResMed were worth $1,407,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of RMD. BlackRock Inc. grew its holdings in shares of ResMed by 5,439.8% during the first quarter. BlackRock Inc. now owns 13,335,138 shares of the medical equipment provider’s stock valued at $959,731,000 after buying an additional 13,094,421 shares during the last quarter. Morgan Stanley grew its holdings in shares of ResMed by 69.1% during the first quarter. Morgan Stanley now owns 1,344,234 shares of the medical equipment provider’s stock valued at $96,744,000 after buying an additional 549,279 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of ResMed by 4.6% during the first quarter. Vanguard Group Inc. now owns 11,535,707 shares of the medical equipment provider’s stock valued at $830,225,000 after buying an additional 508,392 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of ResMed by 191.8% during the second quarter. First Trust Advisors LP now owns 350,012 shares of the medical equipment provider’s stock valued at $27,255,000 after buying an additional 230,056 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of ResMed during the first quarter valued at about $12,790,000. Hedge funds and other institutional investors own 60.14% of the company’s stock.
In other news, insider Jr. Gregor K. Emmert acquired 424,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were bought at an average cost of $0.06 per share, with a total value of $25,440.00. Also, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $77.44, for a total transaction of $96,800.00. Following the sale, the chief financial officer now directly owns 60,508 shares in the company, valued at $4,685,739.52. The disclosure for this sale can be found here. Insiders have sold a total of 180,259 shares of company stock worth $13,782,318 over the last three months. 1.97% of the stock is currently owned by insiders.
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ResMed Inc. (RMD) opened at 79.45 on Wednesday. ResMed Inc. has a 52-week low of $56.59 and a 52-week high of $81.87. The company has a market capitalization of $11.30 billion, a price-to-earnings ratio of 33.10 and a beta of 0.79. The company’s 50 day moving average is $75.91 and its 200-day moving average is $73.47.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $557.68 million. During the same period in the prior year, the firm posted $0.74 EPS. ResMed’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts anticipate that ResMed Inc. will post $3.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 17th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.76%. This is an increase from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 15th. ResMed’s dividend payout ratio is 58.09%.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Thursday, July 6th. Needham & Company LLC reiterated a “sell” rating on shares of ResMed in a report on Friday, September 8th. Citigroup Inc. upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, August 2nd. Credit Suisse Group cut shares of ResMed from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 2nd. Finally, BidaskClub upgraded shares of ResMed from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $67.86.
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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