Janus Henderson Group PLC grew its stake in ResMed Inc. (NYSE:RMD) by 1,205.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 222,648 shares of the medical equipment provider’s stock after buying an additional 205,596 shares during the period. Janus Henderson Group PLC owned 0.16% of ResMed worth $17,337,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. YorkBridge Wealth Partners LLC raised its holdings in shares of ResMed by 4.9% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock worth $115,000 after buying an additional 69 shares during the last quarter. Creative Planning raised its holdings in shares of ResMed by 97.1% in the second quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock worth $130,000 after buying an additional 823 shares during the last quarter. Huntington National Bank purchased a new position in shares of ResMed in the second quarter worth $156,000. Nomura Holdings Inc. purchased a new position in shares of ResMed in the first quarter worth $201,000. Finally, HM Payson & Co. purchased a new position in shares of ResMed in the first quarter worth $202,000. 60.10% of the stock is owned by institutional investors and hedge funds.
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ResMed Inc. (NYSE:RMD) opened at 78.79 on Friday. The stock has a market cap of $11.20 billion, a PE ratio of 32.83 and a beta of 0.77. The company’s 50 day moving average is $77.98 and its 200 day moving average is $74.36. ResMed Inc. has a one year low of $56.59 and a one year high of $81.87.
ResMed (NYSE:RMD) last issued its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.02. The firm had revenue of $556.69 million during the quarter, compared to analysts’ expectations of $557.68 million. ResMed had a net margin of 16.56% and a return on equity of 21.99%. ResMed’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. On average, equities research analysts expect that ResMed Inc. will post $3.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Thursday, August 17th were paid a dividend of $0.35 per share. The ex-dividend date was Tuesday, August 15th. This represents a $1.40 dividend on an annualized basis and a yield of 1.78%. This is a boost from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio is currently 58.09%.
In related news, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $77.49, for a total transaction of $96,862.50. Following the completion of the sale, the chief financial officer now owns 59,258 shares in the company, valued at approximately $4,591,902.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Pendarvis sold 6,364 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $72.10, for a total transaction of $458,844.40. Following the sale, the insider now owns 84,476 shares of the company’s stock, valued at approximately $6,090,719.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 107,232 shares of company stock valued at $8,109,182. 1.77% of the stock is owned by company insiders.
A number of research analysts have issued reports on RMD shares. Citigroup Inc. raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, August 2nd. BidaskClub cut shares of ResMed from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research raised shares of ResMed from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Thursday, July 6th. BMO Capital Markets raised their price target on shares of ResMed from $61.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, August 2nd. Finally, Credit Suisse Group cut shares of ResMed from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $68.33.
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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