Chatham Capital Group Inc. held its stake in shares of ResMed Inc. (NYSE:RMD) during the second quarter, Holdings Channel reports. The firm owned 19,795 shares of the company’s stock at the end of the second quarter. Chatham Capital Group Inc.’s holdings in ResMed were worth $1,252,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of RMD. American Research & Management Co. increased its position in shares of ResMed by 56.1% in the second quarter. American Research & Management Co. now owns 4,590 shares of the company’s stock worth $290,000 after buying an additional 1,650 shares during the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of ResMed during the second quarter worth approximately $390,000. Cambiar Investors LLC increased its position in shares of ResMed by 2.7% in the second quarter. Cambiar Investors LLC now owns 60,606 shares of the company’s stock worth $3,832,000 after buying an additional 1,606 shares during the last quarter. First New York Securities LLC NY bought a new position in shares of ResMed during the second quarter worth approximately $4,160,000. Finally, American Century Companies Inc. increased its position in shares of ResMed by 14.6% in the second quarter. American Century Companies Inc. now owns 593,398 shares of the company’s stock worth $37,521,000 after buying an additional 75,814 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.
Shares of ResMed Inc. (NYSE:RMD) traded down 0.73% during midday trading on Monday, hitting $64.18. The stock had a trading volume of 723,266 shares. The firm has a market capitalization of $9.03 billion, a PE ratio of 25.78 and a beta of 0.68. The firm’s 50-day moving average price is $65.14 and its 200-day moving average price is $62.74. ResMed Inc. has a one year low of $50.77 and a one year high of $70.90.
ResMed (NYSE:RMD) last posted its earnings results on Thursday, July 28th. The company reported $0.74 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.74. The business earned $518.60 million during the quarter, compared to the consensus estimate of $512.37 million. ResMed had a return on equity of 23.89% and a net margin of 18.63%. ResMed’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS. On average, equities analysts predict that ResMed Inc. will post $2.88 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 18th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.04%. This is a boost from ResMed’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, August 16th. ResMed’s dividend payout ratio (DPR) is currently 54.32%.
A number of research analysts recently commented on RMD shares. Bank of America Corp. restated a “hold” rating and set a $65.00 price objective on shares of ResMed in a research note on Sunday, July 10th. JPMorgan Chase & Co. started coverage on ResMed in a research note on Tuesday, October 4th. They set a “neutral” rating and a $64.00 price objective for the company. Zacks Investment Research upgraded ResMed from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Needham & Company LLC downgraded ResMed from a “hold” rating to an “underperform” rating in a research note on Monday, June 27th. Finally, Jefferies Group cut ResMed from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $60.00 to $58.00 in a research note on Tuesday, August 23rd. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of C$60.44.
In related news, insider David Pendarvis sold 6,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of C$68.86, for a total transaction of C$413,160.00. Following the completion of the sale, the insider now directly owns 80,512 shares of the company’s stock, valued at approximately C$5,544,056.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald R. Taylor purchased 2,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were acquired at an average cost of C$69.13 per share, with a total value of C$171,926.31. Following the completion of the acquisition, the director now directly owns 16,729 shares in the company, valued at C$1,156,475.77. The disclosure for this purchase can be found here. Corporate insiders own 1.97% of the company’s stock.
ResMed Company Profile
ResMed Inc is engaged in the development, manufacturing, distribution and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing (SDB). The Company develops various products for SDB and other respiratory disorders, including airflow generators, diagnostic products, mask systems, headgear and other accessories.
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