Retirement Systems of Alabama boosted its position in shares of ResMed Inc. (NYSE:RMD) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 181,123 shares of the company’s stock after buying an additional 547 shares during the period. Retirement Systems of Alabama’s holdings in ResMed were worth $11,452,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in ResMed by 6.0% in the first quarter. JPMorgan Chase & Co. now owns 211,743 shares of the company’s stock worth $12,244,000 after buying an additional 11,994 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its stake in ResMed by 9.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 21,820 shares of the company’s stock worth $1,262,000 after buying an additional 1,865 shares in the last quarter. Tobam increased its stake in ResMed by 10.7% in the first quarter. Tobam now owns 1,185,280 shares of the company’s stock worth $68,533,000 after buying an additional 114,759 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in ResMed by 3.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,270,372 shares of the company’s stock worth $246,913,000 after buying an additional 149,999 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in ResMed by 3.8% in the first quarter. BlackRock Group LTD now owns 520,284 shares of the company’s stock worth $30,082,000 after buying an additional 19,230 shares in the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.
Shares of ResMed Inc. (NYSE:RMD) traded down 0.33% during mid-day trading on Tuesday, hitting $64.12. The stock had a trading volume of 718,766 shares. The stock has a market cap of $9.02 billion, a P/E ratio of 25.75 and a beta of 0.68. The firm has a 50 day moving average of $66.19 and a 200-day moving average of $62.41. ResMed Inc. has a one year low of $50.77 and a one year high of $70.90.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.74. The firm had revenue of $518.60 million for the quarter, compared to the consensus estimate of $512.37 million. ResMed had a return on equity of 23.89% and a net margin of 18.63%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 EPS. Equities research analysts expect that ResMed Inc. will post $2.88 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 18th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, August 16th. This is an increase from ResMed’s previous quarterly dividend of $0.30. ResMed’s payout ratio is currently 54.32%.
A number of research analysts recently issued reports on RMD shares. Jefferies Group downgraded ResMed from a “hold” rating to an “underperform” rating and cut their price objective for the company from $60.00 to $58.00 in a research note on Tuesday, August 23rd. Northland Securities set a $50.00 price objective on ResMed and gave the company a “sell” rating in a research note on Monday, August 29th. Barclays PLC reiterated an “underweight” rating and set a $55.00 price objective on shares of ResMed in a research note on Friday, August 26th. Needham & Company LLC reiterated an “underperform” rating on shares of ResMed in a research note on Tuesday, August 30th. Finally, Zacks Investment Research upgraded ResMed from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Five 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. ResMed presently has an average rating of “Hold” and a consensus target price of C$59.73.
In related news, CFO Brett Sandercock sold 35,000 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of C$70.50, for a total value of C$2,467,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard Sulpizio sold 36,000 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of C$70.15, for a total value of C$2,525,400.00. Following the completion of the sale, the director now owns 101,887 shares in the company, valued at approximately C$7,147,373.05. The disclosure for this sale can be found here. 1.97% of the stock is owned by corporate insiders.
ResMed Company Profile
ResMed Inc is engaged in the development, manufacturing, distribution and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing (SDB). The Company develops various products for SDB and other respiratory disorders, including airflow generators, diagnostic products, mask systems, headgear and other accessories.
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