Martin Currie Ltd. Has $31.55 Million Stock Position in ResMed Inc. (NYSE:RMD)

Martin Currie Ltd. increased its position in shares of ResMed Inc. (NYSE:RMD) by 22.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 140,934 shares of the medical equipment provider’s stock after buying an additional 26,053 shares during the quarter. ResMed comprises about 1.3% of Martin Currie Ltd.’s portfolio, making the stock its 27th biggest position. Martin Currie Ltd. owned approximately 0.10% of ResMed worth $31,548,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its stake in ResMed by 121.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 68 shares during the period. Colonial Trust Co SC raised its stake in shares of ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 125 shares during the last quarter. Optiver Holding B.V. purchased a new stake in shares of ResMed in the fourth quarter worth approximately $33,000. Golden State Wealth Management LLC raised its stake in shares of ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its stake in shares of ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 945 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total transaction of $241,438.05. Following the completion of the transaction, the director directly owned 68,273 shares of the company’s stock, valued at approximately $17,443,068.77. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the 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 transaction, the chief executive officer directly owned 455,503 shares of the company’s stock, valued at approximately $127,303,978.44. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,063 shares of company stock valued at $7,058,835. Company insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RMD shares. Piper Sandler increased their price objective on ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. increased their price objective on ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Stifel Nicolaus increased their price objective on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 1st. Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Finally, William Blair raised ResMed to a “strong-buy” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $274.83.

ResMed Stock Down 1.3%

Shares of NYSE:RMD opened at $284.56 on Friday. The company has a market capitalization of $41.66 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 1.94 and a beta of 0.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The business has a fifty day moving average price of $263.52 and a two-hundred day moving average price of $242.81. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.08.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the company earned $2.08 earnings per share. ResMed’s revenue was up 10.2% compared to the same quarter last year. 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 will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.8%. This is a positive change from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Wednesday, August 13th. ResMed’s dividend payout ratio is currently 22.29%.

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.