41,381 Shares in ResMed Inc. $RMD Acquired by ABN AMRO Bank N.V.

Key Points

• ABN AMRO Bank acquired 41,381 ResMed shares during the second quarter, valued at approximately $8.1 million. Institutional investors and hedge funds collectively own 54.98% of ResMed.
• ResMed exceeded quarterly earnings expectations, reporting $2.95 in EPS on $1.46 billion in revenue; revenue increased 8.6% year over year. The company also raised its quarterly dividend from $0.60 to $0.66 per share.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $240.17. Recent insider activity was bearish, as executives and directors sold shares under pre-arranged trading plans.

ABN AMRO Bank N.V. purchased a new stake in ResMed Inc. (NYSE:RMD - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 41,381 shares of the medical equipment provider's stock, valued at approximately $8,072,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. First Trust Advisors LP raised its holdings in 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 purchasing an additional 1,072,394 shares during the last quarter. Norges Bank acquired a new stake in shares of ResMed during the fourth quarter worth $249,068,000. Deutsche Bank AG increased its position in shares of ResMed by 126.0% during the fourth quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider's stock worth $340,464,000 after buying an additional 787,949 shares during the period. Amundi raised its stake in ResMed by 123.9% during the first quarter. Amundi now owns 1,062,184 shares of the medical equipment provider's stock worth $238,439,000 after buying an additional 587,872 shares during the last quarter. Finally, Morgan Stanley raised its stake in ResMed by 25.0% during the fourth quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider's stock worth $696,523,000 after buying an additional 578,559 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Trading Down 1.0%

NYSE RMD opened at $224.51 on Friday. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $293.81. The business has a 50 day moving average price of $204.00 and a 200-day moving average price of $221.14. The company has a market cap of $32.57 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 1.41 and a beta of 0.76.

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

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.66 per share. This is an increase from ResMed's previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 20th. This represents a $2.64 dividend on an annualized basis and a yield of 1.2%. ResMed's dividend payout ratio (DPR) is presently 25.31%.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the firm'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 transaction, the chief executive officer directly owned 466,256 shares in the company, valued at approximately $95,904,196.64. This trade represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of ResMed stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the transaction, the director directly owned 52,773 shares in the company, valued at $11,873,925. This represents a 13.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,973 shares of company stock valued at $4,885,436 over the last three months. Corporate insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Royal Bank Of Canada upped their target price on ResMed from $234.00 to $244.00 and gave the company a "sector perform" rating in a research report on Friday, August 7th. KeyCorp lowered their target price on ResMed from $260.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, August 7th. Weiss Ratings raised ResMed from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday. Wells Fargo & Company dropped their price target on ResMed from $225.00 to $215.00 and set an "equal weight" rating on the stock in a research note on Friday, August 7th. Finally, Jefferies Financial Group cut their price target on ResMed from $240.00 to $225.00 and set a "hold" rating on the stock in a report on Friday, July 10th. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $240.17.

ResMed 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.

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