ResMed Inc. (RMD) Position Increased by KBC Group NV
KBC Group NV raised its stake in shares of ResMed Inc. (NYSE:RMD) by 7.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,212 shares of the medical equipment provider’s stock after buying an additional 1,993 shares during the period. KBC Group NV’s holdings in ResMed were worth $2,119,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in RMD. Airain ltd acquired a new position in shares of ResMed during the first quarter valued at about $1,242,000. Dai Ichi Life Insurance Company Ltd acquired a new position in shares of ResMed during the first quarter valued at about $205,000. Geode Capital Management LLC raised its position in shares of 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 buying an additional 61,478 shares in the last quarter. Wealthsource Partners LLC raised its position in shares of 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 buying an additional 1,045 shares in the last quarter. Finally, Achmea Investment Management B.V. acquired a new position in shares of ResMed during the first quarter valued at about $785,000. 60.24% of the stock is currently owned by institutional investors.
ResMed Inc. (NYSE:RMD) opened at 74.20 on Monday. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 30.92 and a beta of 0.83. The stock has a 50 day moving average price of $75.46 and a 200-day moving average price of $72.64. ResMed Inc. has a one year low of $56.59 and a one year high of $79.63.
ResMed (NYSE:RMD) last issued its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, topping the 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 business had revenue of $556.69 million for the quarter, compared to analysts’ expectations of $557.68 million. During the same quarter last year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, analysts predict that ResMed Inc. will post $3.03 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th will be given a dividend of $0.35 per share. This is a boost from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.89%. ResMed’s dividend payout ratio (DPR) is presently 58.09%.
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RMD has been the topic of several recent analyst reports. BidaskClub raised ResMed from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Zacks Investment Research raised ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a research report on Wednesday, August 2nd. Credit Suisse Group lowered ResMed from an “outperform” rating to a “neutral” rating in a research report on Wednesday, August 2nd. Finally, Bank of America Corporation lowered ResMed from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 2nd. Four 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 stock. ResMed presently has a consensus rating of “Hold” and an average price target of $65.63.
In other ResMed news, insider David Pendarvis sold 6,365 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $72.62, for a total value of $462,226.30. Following the transaction, the insider now owns 84,477 shares of the company’s stock, valued at $6,134,719.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brett Sandercock sold 1,250 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $71.02, for a total transaction of $88,775.00. The disclosure for this sale can be found here. Insiders have sold 204,650 shares of company stock worth $15,516,845 in the last ninety days. Corporate insiders own 1.97% of the company’s stock.
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.
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