87,722 Shares in ResMed Inc. $RMD Purchased by Avalon Trust Co

Avalon Trust Co bought a new stake in ResMed Inc. (NYSE:RMD - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 87,722 shares of the medical equipment provider's stock, valued at approximately $17,095,000. ResMed makes up 1.1% of Avalon Trust Co's portfolio, making the stock its 28th biggest holding. Avalon Trust Co owned about 0.06% of ResMed as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP lifted its stake in shares of ResMed by 240.9% in the fourth 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 during the 4th quarter valued at about $249,068,000. Deutsche Bank AG raised its holdings in ResMed by 126.0% in the 4th quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider's stock valued at $340,464,000 after acquiring an additional 787,949 shares during the last quarter. Amundi raised its holdings in ResMed by 123.9% in the 1st quarter. Amundi now owns 1,062,184 shares of the medical equipment provider's stock valued at $238,439,000 after acquiring an additional 587,872 shares during the last quarter. Finally, Morgan Stanley lifted its stake in ResMed by 25.0% in the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider's stock worth $696,523,000 after purchasing an additional 578,559 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Down 1.0%

RMD stock opened at $224.51 on Friday. ResMed Inc. has a one year low of $180.26 and a one year high of $293.81. The firm has a market cap of $32.57 billion, a PE ratio of 21.53, a PEG ratio of 1.41 and a beta of 0.76. The firm's 50 day moving average price is $204.00 and its 200-day moving average price is $221.14. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 3.10.

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

ResMed Increases Dividend

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

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 8,000 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total value of $1,800,000.00. Following the sale, the director directly owned 52,773 shares in the company, valued at approximately $11,873,925. The trade was a 13.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the completion of the sale, the chief executive officer owned 466,256 shares in the company, valued at approximately $95,904,196.64. This trade represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on RMD shares. Mizuho lowered their target price on ResMed from $235.00 to $220.00 and set an "outperform" rating on the stock in a report on Wednesday, July 15th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of ResMed in a report on Wednesday, July 1st. Morgan Stanley reiterated an "equal weight" rating and set a $230.00 price objective (down from $286.00) on shares of ResMed in a research report on Wednesday, June 17th. Wells Fargo & Company lowered their price objective 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, 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 report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, ResMed currently has a consensus rating of "Hold" and a consensus target price 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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