B. Metzler seel. Sohn & Co. AG Makes New Investment in ResMed Inc. $RMD

B. Metzler seel. Sohn & Co. AG acquired a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,095 shares of the medical equipment provider's stock, valued at approximately $1,772,000.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of ResMed in the second quarter worth about $2,400,375,000. Bank of New York Mellon Corp bought a new position in shares of ResMed in the 2nd quarter worth about $818,030,000. Deutsche Bank AG acquired a new stake in shares of ResMed during the 2nd quarter worth approximately $257,692,000. First Trust Advisors LP grew its stake in shares of ResMed by 240.9% in the 4th quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider's stock valued at $365,542,000 after buying an additional 1,072,394 shares during the period. Finally, Norges Bank acquired a new stake in ResMed in the fourth quarter valued at approximately $249,068,000. Institutional investors own 54.98% of the company's stock.

ResMed Trading Up 0.0%

Shares of NYSE:RMD opened at $231.62 on Monday. The stock's fifty day moving average price is $207.22 and its 200-day moving average price is $219.82. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81. The company has a market cap of $33.41 billion, a P/E ratio of 22.21, a PEG ratio of 1.45 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42.

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

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Thursday, August 20th. This is a positive change from ResMed's previous quarterly dividend of $0.60. ResMed's dividend payout ratio (DPR) is 25.31%.

Insider Activity

In other news, Director Peter C. Farrell sold 8,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the director owned 52,773 shares of the company's stock, valued at approximately $11,873,925. This represents a 13.16% decrease in their position. The sale was disclosed in a document filed 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 company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $205.69, for a total value of $1,026,598.79. Following the transaction, the chief executive officer directly owned 466,256 shares in the company, valued at $95,904,196.64. This 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 sold 22,973 shares of company stock valued at $4,885,436 over the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RMD shares. KeyCorp dropped their price target on shares of ResMed from $260.00 to $255.00 and set an "overweight" rating on the stock in a research report on Friday, August 7th. Wells Fargo & Company cut their price target on shares of ResMed from $225.00 to $215.00 and set an "equal weight" rating for the company in a report on Friday, August 7th. Citigroup reaffirmed a "neutral" rating and set a $235.00 price target (down from $270.00) on shares of ResMed in a research note on Sunday, July 12th. UBS Group reaffirmed a "buy" rating and set a $300.00 price objective on shares of ResMed in a research note on Tuesday, July 21st. Finally, Weiss Ratings upgraded shares of ResMed from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $239.38.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source