MASTERINVEST Kapitalanlage GmbH Takes $3.77 Million Position in ResMed Inc. $RMD

MASTERINVEST Kapitalanlage GmbH bought a new position in shares of ResMed Inc. (NYSE:RMD) in the second quarter, HoldingsChannel reports. The institutional investor bought 19,371 shares of the medical equipment provider’s stock, valued at approximately $3,775,000.

Several other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in ResMed by 52.6% during the 1st quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock worth $645,000 after purchasing an additional 994 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of ResMed in the 2nd quarter valued at about $389,000. Brown Advisory Inc. boosted its stake in shares of ResMed by 17.8% in the 2nd quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock valued at $409,000 after purchasing an additional 240 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in shares of ResMed during the 2nd quarter worth approximately $206,000. Finally, Alliancebernstein L.P. grew its position in shares of ResMed by 24.2% during the 2nd quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock worth $73,808,000 after buying an additional 55,790 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Down 0.0%

NYSE:RMD opened at $235.64 on Friday. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $284.87. The stock has a 50-day moving average price of $210.78 and a two-hundred day moving average price of $219.03. The stock has a market cap of $33.99 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.48 and a beta of 0.76. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.06. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business posted $2.55 earnings per share. As a group, equities analysts expect that ResMed Inc. will post 12.03 earnings per share for the current year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from ResMed’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 20th. ResMed’s dividend payout ratio is presently 25.31%.

Insider Activity

In other news, Director Peter C. Farrell sold 8,000 shares of ResMed stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total value of $1,800,000.00. Following the sale, the director directly owned 52,773 shares in the company, valued at $11,873,925. This trade represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the completion of the sale, the chief executive officer directly owned 466,256 shares in the company, valued at approximately $95,904,196.64. This represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,973 shares of company stock valued at $4,885,436 over the last ninety days. 0.65% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of ResMed from $234.00 to $244.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. Citigroup reaffirmed a “neutral” rating and set a $235.00 target price (down from $270.00) on shares of ResMed in a report on Sunday, July 12th. Jefferies Financial Group dropped their target price on shares of ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, July 10th. Rothschild & Co Redburn initiated coverage on ResMed in a research note on Wednesday, August 19th. They issued a “neutral” rating and a $230.00 price target on the stock. Finally, UBS Group restated a “buy” rating and issued a $300.00 price target on shares of ResMed in a research report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $239.38.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.