ResMed Inc. $RMD Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 6,500.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 792 shares of the medical equipment provider’s stock after purchasing an additional 780 shares during the period. Penserra Capital Management LLC’s holdings in ResMed were worth $204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Inspire Investing LLC grew its stake in ResMed by 29.3% during the 1st quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider’s stock valued at $6,397,000 after acquiring an additional 6,472 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of ResMed by 63.2% in the first quarter. Intech Investment Management LLC now owns 15,325 shares of the medical equipment provider’s stock worth $3,430,000 after purchasing an additional 5,934 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of ResMed by 8.5% during the first quarter. Goldman Sachs Group Inc. now owns 739,007 shares of the medical equipment provider’s stock worth $165,427,000 after purchasing an additional 58,155 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of ResMed by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 977,401 shares of the medical equipment provider’s stock worth $218,791,000 after purchasing an additional 22,789 shares during the period. Finally, Swedbank AB grew its position in ResMed by 445.1% during the first quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider’s stock valued at $88,940,000 after purchasing an additional 324,428 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

NYSE:RMD opened at $251.91 on Friday. The firm has a market capitalization of $36.76 billion, a PE ratio of 26.49, a PEG ratio of 1.75 and a beta of 0.87. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. The firm’s fifty day simple moving average is $266.91 and its 200 day simple moving average is $262.73.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.06. The company had revenue of $1.34 billion for 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%.The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $2.20 earnings per share. On average, sell-side analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed’s payout ratio is currently 24.56%.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 8,011 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $249.75, for a total transaction of $2,000,747.25. Following the completion of the transaction, the chief executive officer directly owned 467,866 shares in the company, valued at $116,849,533.50. This represents a 1.68% 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 Witte Jan De sold 487 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $250.25, for a total transaction of $121,871.75. Following the completion of the sale, the director directly owned 5,319 shares of the company’s stock, valued at approximately $1,331,079.75. This trade represents a 8.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 21,182 shares of company stock valued at $5,658,783. 0.65% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of research analyst reports. Piper Sandler increased their target price on shares of ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. William Blair upgraded ResMed to a “strong-buy” rating in a report on Friday, August 1st. Citigroup assumed coverage on ResMed in a research report on Thursday, September 18th. They set a “buy” rating and a $330.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $297.45.

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.