ResMed (RMD) Position Cut by Azimuth Capital Management LLC
Azimuth Capital Management LLC trimmed its position in ResMed (NYSE:RMD) by 2.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 123,690 shares of the medical equipment provider’s stock after selling 2,743 shares during the period. Azimuth Capital Management LLC’s holdings in ResMed were worth $12,180,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its position in ResMed by 13.4% in the fourth quarter. Toronto Dominion Bank now owns 61,142 shares of the medical equipment provider’s stock worth $5,178,000 after purchasing an additional 7,216 shares during the period. California Public Employees Retirement System lifted its position in ResMed by 8.0% in the fourth quarter. California Public Employees Retirement System now owns 323,758 shares of the medical equipment provider’s stock worth $27,419,000 after purchasing an additional 23,960 shares during the period. Amalgamated Bank lifted its position in ResMed by 5.1% in the fourth quarter. Amalgamated Bank now owns 30,150 shares of the medical equipment provider’s stock worth $2,553,000 after purchasing an additional 1,476 shares during the period. First Business Financial Services Inc. lifted its position in ResMed by 25.4% in the fourth quarter. First Business Financial Services Inc. now owns 8,100 shares of the medical equipment provider’s stock worth $686,000 after purchasing an additional 1,643 shares during the period. Finally, Deutsche Bank AG lifted its position in ResMed by 24.6% in the fourth quarter. Deutsche Bank AG now owns 204,634 shares of the medical equipment provider’s stock worth $17,326,000 after purchasing an additional 40,447 shares during the period. Hedge funds and other institutional investors own 62.27% of the company’s stock.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research report on Friday, May 25th. UBS Group downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 24th. ValuEngine upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Wednesday, March 7th. Finally, Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 4th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. ResMed has an average rating of “Hold” and an average target price of $76.67.
Shares of NYSE:RMD opened at $102.81 on Friday. ResMed has a one year low of $69.59 and a one year high of $104.78. The firm has a market cap of $14.43 billion, a PE ratio of 36.46 and a beta of 0.91. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.48 and a quick ratio of 2.85.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 26th. The medical equipment provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. ResMed had a return on equity of 23.72% and a net margin of 13.52%. The company had revenue of $591.60 million during the quarter, compared to the consensus estimate of $575.75 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. equities research analysts expect that ResMed will post 3.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 10th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.36%. ResMed’s dividend payout ratio (DPR) is presently 49.65%.
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
Want to see what other hedge funds are holding RMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ResMed (NYSE:RMD).
Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.