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Kidder Stephen W Takes $245,000 Position in ResMed Inc. $RMD

ResMed logo with Medical background

Key Points

  • Kidder Stephen W has acquired a new position in ResMed Inc., buying 948 shares valued at approximately $245,000 in the second quarter.
  • ResMed recently reported strong quarterly earnings of $2.55 per share, surpassing analysts' expectations, with revenue increasing by 10.2% year-over-year.
  • The company announced an increased quarterly dividend of $0.60, up from the previous $0.53, reflecting a strong payout ratio of 25.24%.
  • MarketBeat previews the top five stocks to own by November 1st.

Kidder Stephen W acquired a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 948 shares of the medical equipment provider's stock, valued at approximately $245,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Global X Japan Co. Ltd. lifted its position in shares of ResMed by 121.4% in the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 68 shares in the last quarter. Golden State Wealth Management LLC grew its position in ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 127 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in ResMed in the 1st quarter valued at $45,000. Groupe la Francaise acquired a new position in shares of ResMed during the 1st quarter worth about $45,000. Finally, CVA Family Office LLC grew its holdings in shares of ResMed by 29.8% in the 1st quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock valued at $47,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Stock Up 0.7%

Shares of RMD opened at $283.40 on Wednesday. The firm has a market cap of $41.36 billion, a P/E ratio of 29.80, a price-to-earnings-growth ratio of 1.89 and a beta of 0.83. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The firm's 50-day simple moving average is $278.43 and its 200 day simple moving average is $254.54.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.08. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.33 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The business's revenue was up 10.2% on a year-over-year basis. On average, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. This is a positive change from ResMed's previous quarterly dividend of $0.53. ResMed's payout ratio is currently 25.24%.

Insiders Place Their Bets

In other ResMed news, Director John Hernandez sold 2,575 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the transaction, the director owned 4,045 shares in the company, valued at $1,161,319.50. This trade represents a 38.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. Rider sold 100 shares of the business's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the sale, the general counsel directly owned 11,327 shares of the company's stock, valued at approximately $3,107,675.72. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,734 shares of company stock worth $3,019,169 in the last 90 days. Company insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Stifel Nicolaus increased their price target on ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Royal Bank Of Canada increased their price objective on ResMed from $294.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Mizuho raised their target price on shares of ResMed from $270.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Citigroup initiated coverage on shares of ResMed in a report on Thursday, September 18th. They set a "buy" rating and a $330.00 target price on the stock. Finally, Wall Street Zen cut shares of ResMed from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $294.20.

Get Our Latest Report on ResMed

ResMed Company Profile

(Free Report)

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.

Further Reading

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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