Aviso Financial Inc. Grows Stock Holdings in ResMed Inc. $RMD

Key Points

• Aviso Financial Inc. increased its stake in ResMed Inc. by 2.5%, acquiring an additional 4,630 shares, bringing its total ownership to 189,218 shares valued at approximately $42.36 million.
• Several other institutional investors also raised their holdings in ResMed, including Golden State Wealth Management, which boosted its stake by 384.8%.
• ResMed recently announced an increase in its quarterly dividend from $0.53 to $0.60 per share, effective September 18th, reflecting a dividend yield of 0.8%.

Aviso Financial Inc. grew its stake in ResMed Inc. (NYSE:RMD - Free Report) by 2.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 189,218 shares of the medical equipment provider's stock after purchasing an additional 4,630 shares during the period. ResMed makes up about 2.1% of Aviso Financial Inc.'s holdings, making the stock its 17th largest holding. Aviso Financial Inc. owned approximately 0.13% of ResMed worth $42,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. grew its position in ResMed by 121.4% in the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 68 shares during the period. Colonial Trust Co SC grew its position in 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 acquiring an additional 125 shares during the period. Optiver Holding B.V. purchased a new position in ResMed in the fourth quarter worth approximately $33,000. Golden State Wealth Management LLC grew its position in ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after acquiring an additional 127 shares during the period. Finally, Itau Unibanco Holding S.A. grew its position in ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after acquiring an additional 150 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Down 0.3%

Shares of NYSE RMD traded down $0.93 during mid-day trading on Thursday, hitting $288.13. The company had a trading volume of 907,868 shares, compared to its average volume of 999,426. The company has a market capitalization of $42.19 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 1.92 and a beta of 0.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.08. The business's 50-day simple moving average is $267.02 and its 200 day simple moving average is $244.16.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $2.08 earnings per share. On average, analysts predict that ResMed Inc. will post 9.47 earnings per share 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 paid a $0.60 dividend. This is a boost from ResMed's previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, August 13th. ResMed's payout ratio is 25.24%.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Hernandez sold 2,575 shares of ResMed stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $287.10, for a total value of $739,282.50. Following the sale, the director owned 4,045 shares in the company, 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. Insiders have sold a total of 27,638 shares of company stock worth $7,311,177 over the last ninety days. Corporate insiders own 0.71% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RMD. Royal Bank Of Canada increased their price objective on ResMed from $294.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. increased their price objective on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Piper Sandler increased their price objective on ResMed from $248.00 to $270.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. William Blair upgraded ResMed to a "strong-buy" rating in a research note on Friday, August 1st. Finally, Mizuho upped their price target on ResMed from $270.00 to $290.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ResMed has an average rating of "Moderate Buy" and an average price target of $274.83.

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.