Amundi Purchases 40,937 Shares of ResMed Inc. $RMD

Key Points

• Amundi Inc. increased its stake in ResMed by 6.9%, acquiring an additional 40,937 shares, bringing its total ownership to 631,149 shares, valued at approximately $134.66 million.
• ResMed recently reported strong earnings of $2.55 EPS for the quarter, exceeding expectations, along with a year-over-year revenue increase of 10.2%.
• The company declared a quarterly dividend of $0.60 per share, up from $0.53, indicating a more than 13% increase in its dividends.

Amundi raised its position in ResMed Inc. (NYSE:RMD - Free Report) by 6.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 631,149 shares of the medical equipment provider's stock after acquiring an additional 40,937 shares during the quarter. Amundi owned approximately 0.43% of ResMed worth $134,662,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RMD. Aptus Capital Advisors LLC bought a new position in ResMed in the fourth quarter valued at about $344,000. Ameriprise Financial Inc. lifted its holdings in ResMed by 25.5% in the fourth quarter. Ameriprise Financial Inc. now owns 305,237 shares of the medical equipment provider's stock valued at $69,801,000 after acquiring an additional 62,010 shares during the period. Cetera Investment Advisers raised its stake in shares of ResMed by 21.8% in the fourth quarter. Cetera Investment Advisers now owns 12,605 shares of the medical equipment provider's stock worth $2,883,000 after buying an additional 2,259 shares during the period. Crestline Management LP bought a new position in shares of ResMed in the fourth quarter worth about $694,000. Finally, Colonial Trust Co SC raised its stake in shares of ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after buying an additional 125 shares during the period. Institutional investors own 54.98% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. UBS Group raised their price objective on ResMed from $285.00 to $325.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. William Blair raised ResMed to a "strong-buy" rating in a research note on Friday, August 1st. Morgan Stanley set a $286.00 price objective on ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. CLSA raised ResMed from a "hold" rating to an "outperform" rating in a research note on Tuesday. Finally, Stifel Nicolaus raised their price objective on ResMed from $240.00 to $270.00 and gave the stock a "hold" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ResMed presently has an average rating of "Moderate Buy" and a consensus target price of $278.36.

ResMed Stock Performance

NYSE:RMD opened at $277.05 on Friday. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The stock has a 50-day moving average price of $272.54 and a 200 day moving average price of $247.31. The stock has a market capitalization of $40.56 billion, a P/E ratio of 29.13, a P/E/G ratio of 1.83 and a beta of 0.85.

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

ResMed Increases Dividend

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

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 945 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total transaction of $241,438.05. Following the completion of the transaction, the director owned 68,273 shares in the company, valued at $17,443,068.77. This trade represents a 1.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Hernandez sold 2,575 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were 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 represents a 38.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,597 shares of company stock worth $7,301,182 in the last quarter. 0.71% of the stock is owned by corporate 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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