Board of the Pension Protection Fund Has $619,000 Holdings in ResMed Inc. $RMD

Key Points

• The Board of the Pension Protection Fund reduced its holdings in ResMed Inc. by 47.8% during the second quarter, now owning 2,400 shares worth $619,000.
• Insider selling was notable as Director John Hernandez sold 2,575 shares and CEO Michael J. Farrell sold 8,009 shares, representing significant decreases in their respective positions.
• ResMed recently increased its quarterly dividend to $0.60, reflecting positive changes from the prior amount of $0.53.

Board of the Pension Protection Fund reduced its position in ResMed Inc. (NYSE:RMD - Free Report) by 47.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,400 shares of the medical equipment provider's stock after selling 2,200 shares during the period. Board of the Pension Protection Fund's holdings in ResMed were worth $619,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC increased its holdings in ResMed by 16.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,730 shares of the medical equipment provider's stock worth $7,929,000 after buying an additional 4,424 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of ResMed by 2.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 2,226 shares of the medical equipment provider's stock worth $574,000 after purchasing an additional 59 shares during the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of ResMed by 2.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider's stock worth $430,000 after purchasing an additional 45 shares during the last quarter. Apollon Wealth Management LLC increased its stake in shares of ResMed by 28.9% during the 2nd quarter. Apollon Wealth Management LLC now owns 1,915 shares of the medical equipment provider's stock worth $494,000 after purchasing an additional 429 shares during the last quarter. Finally, Lindenwold Advisors INC acquired a new position in shares of ResMed during the 2nd quarter worth $2,127,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 transaction of $739,282.50. Following the sale, the director directly owned 4,045 shares of the company's stock, valued at $1,161,319.50. This trade represents a 38.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $282.85, for a total value of $2,265,345.65. Following the sale, the chief executive officer directly owned 467,792 shares in the company, valued at $132,314,967.20. The trade was a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,743 shares of company stock valued at $5,284,514 over the last three months. 0.71% of the stock is owned by corporate insiders.

ResMed Trading Down 2.1%

Shares of ResMed stock opened at $271.96 on Friday. The company's fifty day simple moving average is $278.51 and its 200-day simple moving average is $255.69. The company has a market cap of $39.69 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 1.83 and a beta of 0.83. 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 1 year low of $199.92 and a 1 year high of $293.81.

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, topping the consensus estimate of $2.47 by $0.08. The business had revenue of $1.35 billion for 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%. ResMed's quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $2.08 earnings per share. As a group, sell-side analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th were given a $0.60 dividend. The ex-dividend date was Thursday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.9%. This is a positive change from ResMed's previous quarterly dividend of $0.53. ResMed's dividend payout ratio (DPR) is 25.24%.

Analyst Ratings Changes

Several research firms have commented on RMD. Stifel Nicolaus increased their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. Weiss Ratings reissued a "buy (b-)" rating on shares of ResMed in a report on Wednesday. Royal Bank Of Canada increased their price objective on ResMed from $294.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Mizuho increased their price target on ResMed from $270.00 to $290.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Finally, Piper Sandler increased their price target on ResMed from $248.00 to $270.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ResMed presently has an average rating of "Moderate Buy" and an average target price of $294.20.

ResMed Company 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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