ResMed Inc. (RMD) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 7.4% during the first quarter, Holdings Channel reports. The fund owned 217,774 shares of the medical equipment provider’s stock after selling 17,419 shares during the period. JPMorgan Chase & Co.’s holdings in ResMed were worth $15,673,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. boosted its stake in ResMed by 2.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 24,014 shares of the medical equipment provider’s stock valued at $1,490,000 after buying an additional 556 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in ResMed by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 364,186 shares of the medical equipment provider’s stock valued at $22,599,000 after buying an additional 6,742 shares during the last quarter. Keybank National Association OH boosted its stake in ResMed by 2.0% in the fourth quarter. Keybank National Association OH now owns 10,181 shares of the medical equipment provider’s stock valued at $632,000 after buying an additional 201 shares during the last quarter. Marshall Wace LLP purchased a new stake in ResMed during the fourth quarter valued at $3,371,000. Finally, Aviva PLC boosted its stake in ResMed by 6.3% in the fourth quarter. Aviva PLC now owns 91,746 shares of the medical equipment provider’s stock valued at $5,695,000 after buying an additional 5,433 shares during the last quarter. 60.75% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

Shares of ResMed Inc. (NYSE:RMD) opened at 78.91 on Tuesday. The stock has a 50 day moving average price of $70.93 and a 200-day moving average price of $68.57. The company has a market capitalization of $11.19 billion, a PE ratio of 34.61 and a beta of 0.83. ResMed Inc. has a 12 month low of $56.59 and a 12 month high of $79.22.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, April 27th. The medical equipment provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. ResMed had a net margin of 15.96% and a return on equity of 22.53%. The company had revenue of $514.20 million during the quarter, compared to analysts’ expectations of $525.84 million. During the same quarter in the previous year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts forecast that ResMed Inc. will post $2.80 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, May 11th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, May 9th. This represents a $1.32 dividend on an annualized basis and a yield of 1.67%. ResMed’s payout ratio is 57.64%.

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RMD has been the topic of several research reports. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research report on Tuesday, February 21st. William Blair reaffirmed an “outperform” rating on shares of ResMed in a research report on Thursday, April 13th. J P Morgan Chase & Co cut ResMed from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $72.00 to $71.00 in a research report on Thursday, April 20th. Jefferies Group LLC reaffirmed a “sell” rating and set a $56.00 price objective on shares of ResMed in a research report on Friday, April 28th. Finally, Citigroup Inc. cut ResMed from a “buy” rating to a “neutral” rating in a research report on Friday, April 28th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. ResMed presently has an average rating of “Hold” and a consensus price target of $63.75.

In other ResMed news, insider James Hollingshead sold 7,139 shares of ResMed stock in a transaction on Monday, April 17th. The shares were sold at an average price of $68.37, for a total value of $488,093.43. Following the completion of the transaction, the insider now owns 44,934 shares of the company’s stock, valued at $3,072,137.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Pendarvis sold 6,365 shares of ResMed stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $71.59, for a total transaction of $455,670.35. Following the completion of the transaction, the insider now directly owns 84,261 shares of the company’s stock, valued at approximately $6,032,244.99. The disclosure for this sale can be found here. Insiders sold 114,374 shares of company stock valued at $8,207,803 in the last ninety days. 1.97% of the stock is owned by corporate 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “RMD”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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