ASR Vermogensbeheer N.V. Invests $2.74 Million in ResMed Inc. (NYSE:RMD)

Key Points

• ASR Vermogensbeheer N.V. invested approximately $2.74 million in ResMed Inc. by acquiring 12,254 shares during the 1st quarter, according to SEC filings.
• ResMed recently declared a quarterly dividend of $0.60 per share, a raise from the previous $0.53, scheduled to be paid on September 18th.
• Wall Street analysts have a consensus rating of "Moderate Buy" on ResMed, with an average target price of $274.83 following various upgrades from multiple firms.

ASR Vermogensbeheer N.V. acquired a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,254 shares of the medical equipment provider's stock, valued at approximately $2,743,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of RMD. Global X Japan Co. Ltd. raised its position in shares of ResMed by 121.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 68 shares in the last quarter. Colonial Trust Co SC increased its stake in 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. acquired a new stake in shares of ResMed during the fourth quarter worth $33,000. Golden State Wealth Management LLC raised 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 worth $36,000 after purchasing an additional 127 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its position in shares of ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Trading Down 0.2%

NYSE:RMD opened at $279.86 on Friday. The stock has a market cap of $41.04 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 1.89 and a beta of 0.77. 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 $293.08. The business has a fifty day moving average of $259.04 and a 200-day moving average of $241.33.

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

ResMed Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from ResMed's previous quarterly dividend of $0.53. ResMed's dividend payout ratio (DPR) is currently 22.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Mizuho lifted their target price on ResMed from $270.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Wall Street Zen upgraded ResMed from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. KeyCorp boosted their price objective on ResMed from $274.00 to $298.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, William Blair upgraded ResMed to a "strong-buy" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, ResMed currently has a consensus rating of "Moderate Buy" and an average target price of $274.83.

Insider Activity

In other ResMed news, Director Witte Jan De sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the sale, the director directly owned 5,806 shares in the company, valued at $1,413,586.82. This represents a 25.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 945 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total value of $241,438.05. Following the transaction, the director directly owned 68,273 shares of the company's stock, valued at approximately $17,443,068.77. The trade was a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock worth $4,820,479 over the last three months. Corporate insiders own 0.71% of the company's stock.

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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