Commerzbank Aktiengesellschaft FI Purchases New Shares in ResMed Inc. (NYSE:RMD)

Commerzbank Aktiengesellschaft FI purchased a new stake in ResMed Inc. (NYSE:RMD) during the 3rd quarter, HoldingsChannel reports. The firm purchased 924 shares of the medical equipment provider’s stock, valued at approximately $226,000.

Several other large investors have also added to or reduced their stakes in the stock. Lecap Asset Management Ltd. bought a new stake in ResMed in the third quarter valued at $366,000. Weaver Capital Management LLC boosted its holdings in shares of ResMed by 26.7% during the 3rd quarter. Weaver Capital Management LLC now owns 2,072 shares of the medical equipment provider’s stock valued at $506,000 after buying an additional 437 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of ResMed by 1.7% during the 3rd quarter. Signaturefd LLC now owns 4,211 shares of the medical equipment provider’s stock valued at $1,028,000 after buying an additional 72 shares in the last quarter. Telos Capital Management Inc. boosted its holdings in shares of ResMed by 1.6% during the 3rd quarter. Telos Capital Management Inc. now owns 30,377 shares of the medical equipment provider’s stock valued at $7,416,000 after buying an additional 479 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of ResMed by 359.4% during the 3rd quarter. Blue Trust Inc. now owns 974 shares of the medical equipment provider’s stock valued at $238,000 after buying an additional 762 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RMD. KeyCorp boosted their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Tuesday, October 1st. Bank of America upped their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada upped their price target on shares of ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the completion of the sale, the director now owns 87,204 shares of the company’s stock, valued at $20,920,239.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now owns 18,741 shares of the company’s stock, valued at $4,068,108.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the sale, the director now directly owns 87,204 shares of the company’s stock, valued at $20,920,239.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 123,874 shares of company stock valued at $28,151,142 in the last quarter. 0.71% of the stock is currently owned by insiders.

ResMed Price Performance

Shares of NYSE:RMD opened at $239.05 on Friday. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $255.18. The business has a 50-day simple moving average of $239.99 and a two-hundred day simple moving average of $217.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The firm has a market cap of $35.09 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 1.94 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm earned $1.60 EPS. ResMed’s revenue was up 6.9% on a year-over-year basis. On average, analysts expect that ResMed Inc. will post 9.08 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is presently 30.59%.

ResMed 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.