Cookson Peirce & Co. Inc. lessened its stake in shares of ResMed Inc. (NYSE:RMD) by 27.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,277 shares of the medical equipment provider’s stock after selling 480 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in ResMed were worth $245,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in ResMed by 3.8% in the 1st quarter. Wellington Management Group LLP now owns 1,790 shares of the medical equipment provider’s stock worth $264,000 after acquiring an additional 66 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in ResMed by 57.8% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 2,766 shares of the medical equipment provider’s stock worth $407,000 after buying an additional 1,013 shares during the period. Wells Fargo & Company MN lifted its holdings in ResMed by 6.2% in the 1st quarter. Wells Fargo & Company MN now owns 387,665 shares of the medical equipment provider’s stock worth $57,098,000 after buying an additional 22,510 shares during the period. Paloma Partners Management Co bought a new stake in shares of ResMed in the 1st quarter worth approximately $489,000. Finally, Advisor Group Holdings Inc. purchased a new position in shares of ResMed during the first quarter valued at approximately $5,523,000. Hedge funds and other institutional investors own 67.15% of the company’s stock.
Several research firms recently weighed in on RMD. Bank of America cut shares of ResMed from a “buy” rating to an “underperform” rating in a report on Monday, August 3rd. Oppenheimer lifted their target price on shares of ResMed from $200.00 to $210.00 in a research note on Thursday, August 6th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Thursday, August 6th. Zacks Investment Research cut ResMed from a “buy” rating to a “hold” rating and set a $184.00 price objective on the stock. in a research report on Tuesday, August 11th. Finally, Morgan Stanley downgraded ResMed from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. ResMed has an average rating of “Hold” and a consensus target price of $186.00.
In other ResMed news, CFO Brett Sandercock sold 2,500 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $177.55, for a total value of $443,875.00. Following the completion of the sale, the chief financial officer now owns 89,275 shares in the company, valued at $15,850,776.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Robert Andrew Douglas sold 1,245 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $158.79, for a total transaction of $197,693.55. Following the completion of the sale, the chief operating officer now directly owns 24,620 shares of the company’s stock, valued at $3,909,409.80. The disclosure for this sale can be found here. Insiders sold 25,809 shares of company stock worth $4,612,301 over the last quarter. Insiders own 1.22% of the company’s stock.
ResMed stock traded down $1.82 during mid-day trading on Thursday, reaching $181.61. 12,806 shares of the stock traded hands, compared to its average volume of 744,933. ResMed Inc. has a 12-month low of $108.85 and a 12-month high of $208.99. The business’s 50-day moving average is $192.90 and its 200-day moving average is $169.11. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.53 and a quick ratio of 1.84. The stock has a market capitalization of $26.52 billion, a PE ratio of 42.86, a price-to-earnings-growth ratio of 2.79 and a beta of 0.51.
ResMed (NYSE:RMD) last issued its quarterly earnings data on Wednesday, August 5th. The medical equipment provider reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.36. The firm had revenue of $770.30 million for the quarter, compared to analysts’ expectations of $755.01 million. ResMed had a net margin of 21.02% and a return on equity of 30.34%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 EPS. Equities analysts anticipate that ResMed Inc. will post 4.73 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $1.56 annualized dividend and a yield of 0.86%. ResMed’s payout ratio is presently 32.77%.
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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