149,697 Shares in ResMed Inc. $RMD Acquired by Aware Super Pty Ltd as trustee of Aware Super

Key Points

• Aware Super disclosed a new position in ResMed, buying 149,697 shares worth about $33.6 million in the first quarter, equal to roughly 0.10% of the company.
• ResMed reported better-than-expected quarterly results, with EPS of $2.86 versus $2.79 expected and revenue of $1.43 billion, up 10.8% year over year.
• The stock has attracted mixed sentiment: several analysts trimmed ratings or price targets, while the consensus remains Moderate Buy with an average target price of $250.

Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 149,697 shares of the medical equipment provider's stock, valued at approximately $33,604,000. Aware Super Pty Ltd as trustee of Aware Super owned 0.10% of ResMed as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Trust Advisors LP grew its position in shares of ResMed by 240.9% during the 4th quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider's stock worth $365,542,000 after buying an additional 1,072,394 shares in the last quarter. Norges Bank purchased a new stake in ResMed in the fourth quarter worth about $249,068,000. Deutsche Bank AG lifted its stake in ResMed by 126.0% in the fourth quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider's stock worth $340,464,000 after acquiring an additional 787,949 shares during the period. Morgan Stanley grew its holdings in ResMed by 25.0% during the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider's stock worth $696,523,000 after acquiring an additional 578,559 shares in the last quarter. Finally, Swedbank AB grew its holdings in ResMed by 103.1% during the 4th quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider's stock worth $265,553,000 after acquiring an additional 559,765 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total value of $1,090,783.05. Following the completion of the sale, the chief executive officer owned 466,223 shares of the company's stock, valued at $101,893,036.65. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 14,973 shares of company stock worth $3,096,067. Corporate insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on RMD shares. Royal Bank Of Canada lowered shares of ResMed from an "outperform" rating to a "sector perform" rating and set a $234.00 price target for the company. in a report on Thursday. Weiss Ratings downgraded shares of ResMed from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 22nd. Mizuho cut their price objective on shares of ResMed from $235.00 to $220.00 and set an "outperform" rating on the stock in a report on Wednesday. Wells Fargo & Company reduced their price objective on shares of ResMed from $227.00 to $225.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 8th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $230.00 price objective (down from $286.00) on shares of ResMed in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $250.00.

ResMed Stock Up 2.1%

Shares of ResMed stock opened at $202.66 on Friday. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The company has a market cap of $29.40 billion, a P/E ratio of 19.54, a PEG ratio of 1.19 and a beta of 0.78. The firm's 50 day moving average price is $199.56 and its 200-day moving average price is $226.83. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.81.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating analysts' consensus estimates of $2.79 by $0.07. The company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. ResMed's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.37 earnings per share. On average, sell-side analysts predict that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, May 14th. ResMed's dividend payout ratio is currently 23.14%.

About ResMed

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.

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