AG2R LA Mondiale Gestion D Actifs Makes New $1.55 Million Investment in ResMed Inc. $RMD

Key Points

• AG2R LA Mondiale Gestion D Actifs made a new investment in ResMed Inc. worth approximately $1.55 million, acquiring 6,322 shares during the 1st quarter.
• ResMed recently reported a quarterly earnings per share (EPS) of $2.55, exceeding analysts' expectations, with a revenue of $1.35 billion, marking a year-over-year growth of 10.2%.
• The company declared a quarterly dividend increase from $0.53 to $0.60 per share, reflecting the firm’s commitment to returning value to shareholders.

AG2R LA Mondiale Gestion D Actifs 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 fund acquired 6,322 shares of the medical equipment provider's stock, valued at approximately $1,548,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. ICW Investment Advisors LLC increased its holdings in ResMed by 0.4% during the 1st quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider's stock worth $2,551,000 after purchasing an additional 41 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of ResMed by 3.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider's stock valued at $269,000 after acquiring an additional 46 shares during the last quarter. E Fund Management Co. Ltd. increased its holdings in shares of ResMed by 2.8% in the 1st quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider's stock valued at $385,000 after acquiring an additional 47 shares during the last quarter. CVA Family Office LLC increased its holdings in shares of ResMed by 29.8% in the 1st quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock valued at $47,000 after acquiring an additional 48 shares during the last quarter. Finally, Central Pacific Bank Trust Division increased its holdings in shares of ResMed by 9.7% in the 1st quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider's stock valued at $126,000 after acquiring an additional 50 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Trading Down 1.4%

Shares of RMD stock opened at $270.67 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The stock has a fifty day moving average of $274.35 and a two-hundred day moving average of $248.86. The firm has a market capitalization of $39.63 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 1.83 and a beta of 0.85.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.08. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the firm posted $2.08 EPS. The firm's quarterly revenue was up 10.2% on a year-over-year basis. As a group, research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.60 per share. This is a boost from ResMed's previous quarterly dividend of $0.53. The ex-dividend date is Thursday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. ResMed's payout ratio is presently 25.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RMD shares. Stifel Nicolaus boosted their price target on ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a report on Friday, August 1st. UBS Group boosted their price objective on ResMed from $285.00 to $325.00 and gave the company a "buy" rating in a research report on Friday, August 1st. William Blair upgraded ResMed to a "strong-buy" rating in a research report on Friday, August 1st. Wall Street Zen lowered ResMed from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Piper Sandler boosted their price objective on ResMed from $248.00 to $270.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $278.36.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $279.48, for a total transaction of $2,238,355.32. Following the completion of the transaction, the chief executive officer owned 455,503 shares in the company, valued at approximately $127,303,978.44. The trade was a 1.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Hernandez sold 2,575 shares of the business'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 transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,588 shares of company stock worth $5,289,241. 0.71% of the stock is owned by company insiders.

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.

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