Erste Asset Management GmbH Makes New $4.19 Million Investment in ResMed Inc. $RMD

Key Points

• Erste Asset Management GmbH purchased 18,800 shares of ResMed Inc. valued at approximately $4,185,000, marking a new position for the fund.
• ResMed recently announced a dividend increase to $0.60 per share, up from $0.53, with an annualized yield of 0.8%.
• The company's quarterly earnings report showed an EPS of $2.55, surpassing estimates of $2.47, and a 10.2% increase in year-over-year revenue.

Erste Asset Management GmbH bought a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 18,800 shares of the medical equipment provider's stock, valued at approximately $4,185,000.

Several other large investors have also recently made changes to their positions in RMD. Global X Japan Co. Ltd. lifted its holdings in shares of ResMed by 121.4% during the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 68 shares during the last quarter. Colonial Trust Co SC lifted its holdings in shares of ResMed by 6,250.0% during the fourth 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 during the last quarter. Optiver Holding B.V. purchased a new position in shares of ResMed during the fourth quarter valued at approximately $33,000. Golden State Wealth Management LLC lifted its holdings in shares of ResMed by 384.8% during the first 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 during the last quarter. Finally, Itau Unibanco Holding S.A. lifted its holdings in shares of ResMed by 1,000.0% during the fourth 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 during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $279.48, for a total value of $2,238,355.32. Following the completion of the sale, the chief executive officer directly owned 455,503 shares in the company, valued at $127,303,978.44. This represents a 1.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Hernandez sold 2,575 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the sale, the director owned 4,045 shares of the company's stock, valued at $1,161,319.50. This trade represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,638 shares of company stock worth $7,311,177 in the last three months. Corporate insiders own 0.71% of the company's stock.

ResMed Stock Performance

Shares of NYSE:RMD traded up $5.1380 during midday trading on Friday, hitting $293.4780. The company had a trading volume of 627,080 shares, compared to its average volume of 1,120,408. 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 company has a market cap of $42.97 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 1.97 and a beta of 0.77. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The company has a fifty day moving average of $267.91 and a two-hundred day moving average of $244.59.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping the consensus estimate of $2.47 by $0.08. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 EPS. On average, equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. KeyCorp lifted their target price on shares of ResMed from $274.00 to $298.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Piper Sandler boosted their price objective on shares of ResMed from $248.00 to $270.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Finally, William Blair upgraded shares of ResMed to a "strong-buy" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $274.83.

ResMed 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.