18,800 Shares in ResMed Inc. $RMD Bought by Erste Asset Management GmbH

Erste Asset Management GmbH bought a new position in ResMed Inc. (NYSE:RMD) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 18,800 shares of the medical equipment provider’s stock, valued at approximately $4,185,000.

A number of other hedge funds have also modified their holdings of RMD. E Fund Management Co. Ltd. boosted its position in ResMed by 2.8% during the first quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider’s stock valued at $385,000 after purchasing an additional 47 shares during the last quarter. CVA Family Office LLC boosted its position in ResMed by 29.8% during the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider’s stock valued at $47,000 after purchasing an additional 48 shares during the last quarter. Central Pacific Bank Trust Division boosted its position in ResMed by 9.7% during the first quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider’s stock valued at $126,000 after purchasing an additional 50 shares during the last quarter. Terra Nova Asset Management LLC boosted its position in ResMed by 0.7% during the first quarter. Terra Nova Asset Management LLC now owns 7,950 shares of the medical equipment provider’s stock valued at $1,780,000 after purchasing an additional 52 shares during the last quarter. Finally, Portside Wealth Group LLC boosted its position in ResMed by 3.8% during the first quarter. Portside Wealth Group LLC now owns 1,457 shares of the medical equipment provider’s stock valued at $326,000 after purchasing an additional 54 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Trading Down 0.3%

RMD stock opened at $288.13 on Friday. The firm has a market cap of $42.19 billion, a P/E ratio of 30.30, a P/E/G ratio of 1.94 and a beta of 0.77. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.08. The business’s 50 day moving average is $267.02 and its 200-day moving average is $244.16. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 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 business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the company earned $2.08 EPS. ResMed’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be paid a $0.60 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. ResMed’s dividend payout ratio (DPR) is currently 25.24%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RMD. Stifel Nicolaus lifted their price objective on ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 1st. William Blair raised ResMed to a “strong-buy” rating in a research report on Friday, August 1st. Morgan Stanley set a $286.00 price target on ResMed and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. boosted their price target on ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Finally, Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $274.83.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $279.48, for a total value of $2,238,355.32. Following the completion of the sale, the chief executive officer owned 455,503 shares in the company, valued at $127,303,978.44. This represents a 1.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Hernandez sold 2,575 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $287.10, for a total value of $739,282.50. Following the transaction, the director owned 4,045 shares of the company’s stock, valued at approximately $1,161,319.50. This trade represents a 38.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,638 shares of company stock worth $7,311,177 in the last quarter. Corporate insiders own 0.71% of the company’s stock.

ResMed Company Profile

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.