LS Investment Advisors LLC raised its position in ResMed Inc. (NYSE:RMD) by 40.7% during the second quarter, Holdings Channel reports. The firm owned 13,010 shares of the company’s stock after buying an additional 3,763 shares during the period. LS Investment Advisors LLC’s holdings in ResMed were worth $823,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of RMD. Roffman Miller Associates Inc. PA increased its stake in shares of ResMed by 1.0% in the second quarter. Roffman Miller Associates Inc. PA now owns 62,414 shares of the company’s stock worth $3,946,000 after buying an additional 603 shares during the period. Capstone Asset Management Co. increased its stake in shares of ResMed by 3.0% in the second quarter. Capstone Asset Management Co. now owns 85,973 shares of the company’s stock worth $5,436,000 after buying an additional 2,540 shares during the period. M&T Bank Corp increased its stake in shares of ResMed by 26.2% in the first quarter. M&T Bank Corp now owns 16,066 shares of the company’s stock worth $929,000 after buying an additional 3,337 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of ResMed by 3.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 133,401 shares of the company’s stock worth $7,713,000 after buying an additional 3,922 shares during the period. Finally, Cape Cod Five Cents Savings Bank increased its stake in shares of ResMed by 10.6% in the second quarter. Cape Cod Five Cents Savings Bank now owns 43,935 shares of the company’s stock worth $2,778,000 after buying an additional 4,225 shares during the period. Institutional investors own 60.99% of the company’s stock.
Shares of ResMed Inc. (NYSE:RMD) traded down 0.03% on Wednesday, hitting $64.06. The stock had a trading volume of 379,226 shares. The company has a 50 day moving average price of $65.46 and a 200-day moving average price of $62.66. The stock has a market cap of $9.01 billion, a PE ratio of 25.73 and a beta of 0.68. ResMed Inc. has a 12 month low of $50.77 and a 12 month high of $70.90.
ResMed (NYSE:RMD) last issued its earnings results on Thursday, July 28th. The company reported $0.74 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.74. The business had revenue of $518.60 million for the quarter, compared to the consensus estimate of $512.37 million. ResMed had a net margin of 18.63% and a return on equity of 23.89%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities research analysts anticipate that ResMed Inc. will post $2.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, August 18th were paid a $0.33 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Tuesday, August 16th. ResMed’s dividend payout ratio is currently 54.32%.
A number of brokerages recently issued reports on RMD. Canaccord Genuity reiterated a “hold” rating and issued a $57.00 price objective on shares of ResMed in a research report on Monday, July 25th. Jefferies Group raised their price target on ResMed from $56.00 to $60.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Needham & Company LLC restated an “underperform” rating on shares of ResMed in a research report on Tuesday, August 30th. Bank of America Corp. restated a “hold” rating and set a $65.00 price target on shares of ResMed in a research report on Sunday, July 10th. Finally, Zacks Investment Research upgraded ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. ResMed has an average rating of “Hold” and a consensus price target of C$60.44.
In other ResMed news, CFO Brett Sandercock sold 35,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of C$70.50, for a total value of C$2,467,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David Pendarvis sold 6,000 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of C$63.95, for a total transaction of C$383,700.00. Following the completion of the transaction, the insider now owns 87,061 shares in the company, valued at C$5,567,550.95. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by company 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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