Prudential Financial Inc. raised its holdings in ResMed Inc. (NYSE:RMD) by 50.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,997 shares of the medical equipment provider’s stock after purchasing an additional 44,266 shares during the period. Prudential Financial Inc. owned about 0.09% of ResMed worth $10,279,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Airain ltd acquired a new stake in ResMed in the first quarter valued at approximately $1,242,000. Dai Ichi Life Insurance Company Ltd acquired a new stake in ResMed in the first quarter valued at approximately $205,000. Wealthsource Partners LLC grew its holdings 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 purchasing an additional 1,045 shares during the period. Geode Capital Management LLC grew its holdings 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 purchasing an additional 61,478 shares during the period. Finally, Achmea Investment Management B.V. acquired a new stake in ResMed in the first quarter valued at approximately $785,000. 60.25% of the stock is currently owned by institutional investors.
Shares of ResMed Inc. (RMD) opened at 80.88 on Wednesday. ResMed Inc. has a 52 week low of $56.59 and a 52 week high of $81.87. The firm has a market capitalization of $11.50 billion, a price-to-earnings ratio of 33.70 and a beta of 0.79. The stock has a 50 day moving average price of $75.48 and a 200-day moving average price of $73.14.
ResMed (NYSE:RMD) last released its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $556.69 million for the quarter, compared to analysts’ expectations of $557.68 million. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 EPS. On average, analysts anticipate that ResMed Inc. will post $3.03 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 17th will be issued a $0.35 dividend. 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 1.73%. This is a boost from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio is currently 58.09%.
TRADEMARK VIOLATION NOTICE: “ResMed Inc. (RMD) Shares Bought by Prudential Financial Inc.” was published by Ticker Report and is the property of of Ticker Report. If you are accessing this piece on another website, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.tickerreport.com/banking-finance/2888089/resmed-inc-rmd-shares-bought-by-prudential-financial-inc.html.
In other news, insider Jr. Gregor K. Emmert purchased 424,000 shares of the stock in a transaction that occurred on Wednesday, June 28th. The shares were acquired at an average price of $0.06 per share, for a total transaction of $25,440.00. Also, Director Richard Sulpizio sold 65,887 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director now 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 90 days, insiders sold 204,649 shares of company stock worth $15,635,958. Insiders own 1.97% of the company’s stock.
Several analysts have commented on the company. Credit Suisse Group lowered ResMed from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 8th. Zacks Investment Research lowered ResMed from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Citigroup Inc. raised ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, August 2nd. BMO Capital Markets lifted their price target on ResMed from $61.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 2nd. Finally, Bank of America Corporation lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. ResMed currently has a consensus rating of “Hold” and a consensus target price of $67.86.
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.
Want to see what other hedge funds are holding RMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ResMed Inc. (NYSE:RMD).
Receive News & Ratings for ResMed Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed Inc. and related companies with MarketBeat.com's FREE daily email newsletter.