ResMed Inc. $RMD Shares Acquired by Credit Agricole S A

Credit Agricole S A grew its holdings in ResMed Inc. (NYSE:RMD) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,293 shares of the medical equipment provider’s stock after buying an additional 2,812 shares during the quarter. Credit Agricole S A’s holdings in ResMed were worth $17,526,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Global X Japan Co. Ltd. lifted its holdings in shares of ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 68 shares during the period. Colonial Trust Co SC increased its stake in ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. Optiver Holding B.V. purchased a new position in ResMed in the 4th quarter valued at approximately $33,000. Golden State Wealth Management LLC increased its stake in ResMed by 384.8% in the 1st 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. Finally, Itau Unibanco Holding S.A. increased its stake in ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RMD shares. JPMorgan Chase & Co. raised their price objective on ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Morgan Stanley set a $286.00 price objective on ResMed and gave the company an “overweight” rating in a research note on Tuesday, May 20th. Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. UBS Group raised their price objective on ResMed from $285.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, KeyCorp raised their price objective on ResMed from $274.00 to $298.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $274.83.

ResMed Stock Performance

ResMed stock opened at $289.0290 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The stock has a fifty day moving average of $266.30 and a two-hundred day moving average of $243.84. The company has a market capitalization of $42.32 billion, a price-to-earnings ratio of 30.39, a PEG ratio of 1.92 and a beta of 0.77. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.08.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.08. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.ResMed’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 earnings per share. On average, analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

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

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 945 shares of ResMed stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total value of $241,438.05. Following the completion of the sale, the director owned 68,273 shares of the company’s stock, valued at $17,443,068.77. The trade was 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 available at the SEC website. Also, Director John Hernandez sold 2,575 shares of ResMed stock in a transaction on Monday, August 18th. The shares were sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the sale, the director directly owned 4,045 shares of the company’s stock, valued at approximately $1,161,319.50. This represents a 38.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,638 shares of company stock valued at $7,311,177. Corporate insiders own 0.71% of the company’s stock.

About ResMed

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.