BlueMountain Capital Management LLC boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 12.0% during the second quarter, HoldingsChannel reports. The firm owned 40,852 shares of the medical equipment provider’s stock after purchasing an additional 4,372 shares during the period. BlueMountain Capital Management LLC’s holdings in ResMed were worth $4,231,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Koch Industries Inc. boosted its position in ResMed by 9.2% during the first quarter. Koch Industries Inc. now owns 6,067 shares of the medical equipment provider’s stock worth $597,000 after purchasing an additional 512 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of ResMed by 2.3% in the first quarter. Victory Capital Management Inc. now owns 26,503 shares of the medical equipment provider’s stock valued at $2,610,000 after acquiring an additional 595 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of ResMed by 24.5% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 3,031 shares of the medical equipment provider’s stock valued at $298,000 after acquiring an additional 597 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of ResMed by 18.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,904 shares of the medical equipment provider’s stock valued at $383,000 after acquiring an additional 598 shares in the last quarter. Finally, Xact Kapitalforvaltning AB lifted its position in shares of ResMed by 2.6% in the second quarter. Xact Kapitalforvaltning AB now owns 23,429 shares of the medical equipment provider’s stock valued at $2,427,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 63.79% of the company’s stock.
In related news, CFO Brett Sandercock sold 2,000 shares of ResMed stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $109.01, for a total transaction of $218,020.00. Following the transaction, the chief financial officer now owns 65,072 shares in the company, valued at $7,093,498.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James Hollingshead sold 600 shares of ResMed stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $111.59, for a total value of $66,954.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,610 shares of company stock worth $1,137,054. Company insiders own 1.77% of the company’s stock.
Several research firms have recently weighed in on RMD. Zacks Investment Research upgraded ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Goldman Sachs Group began coverage on ResMed in a research report on Sunday, July 1st. They issued a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.33.
NYSE RMD opened at $112.04 on Friday. The company has a market capitalization of $15.98 billion, a PE ratio of 31.74, a PEG ratio of 2.89 and a beta of 0.91. ResMed Inc. has a 1-year low of $75.28 and a 1-year high of $112.86. The company has a current ratio of 2.08, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13.
ResMed (NYSE:RMD) last released its earnings results on Thursday, August 2nd. The medical equipment provider reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. The business had revenue of $623.63 million for the quarter, compared to the consensus estimate of $622.78 million. ResMed had a return on equity of 24.74% and a net margin of 13.49%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 earnings per share. research analysts predict that ResMed Inc. will post 3.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 20th. Stockholders of record on Thursday, August 16th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Wednesday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.35. ResMed’s dividend payout ratio (DPR) is 41.93%.
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.
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