Deutsche Bank AG Takes Position in ResMed Inc. $RMD

Deutsche Bank AG purchased a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,322,313 shares of the medical equipment provider's stock, valued at approximately $257,692,000. Deutsche Bank AG owned approximately 0.91% of ResMed at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of RMD. International Assets Investment Management LLC acquired a new position in ResMed during the fourth quarter worth $25,000. Bell Investment Advisors Inc acquired a new stake in ResMed in the second quarter valued at $26,000. Imprint Wealth LLC acquired a new stake in ResMed in the third quarter valued at $26,000. WFA of San Diego LLC purchased a new position in shares of ResMed in the second quarter valued at $26,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of ResMed in the third quarter valued at $31,000. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the completion of the sale, the chief executive officer directly owned 466,256 shares in the company, valued at $95,904,196.64. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the business'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 transaction of $1,800,000.00. Following the completion of the transaction, the director directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 22,973 shares of company stock valued at $4,885,436. Insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

RMD has been the topic of several recent research reports. Jefferies Financial Group decreased their price objective on shares of ResMed from $240.00 to $225.00 and set a "hold" rating on the stock in a research report on Friday, July 10th. KeyCorp dropped their target price on shares of ResMed from $260.00 to $255.00 and set an "overweight" rating for the company in a report on Friday, August 7th. Mizuho cut their target price on shares of ResMed from $235.00 to $220.00 and set an "outperform" rating for the company in a research report on Wednesday, July 15th. Citigroup reaffirmed a "neutral" rating and issued a $235.00 price target (down from $270.00) on shares of ResMed in a report on Sunday, July 12th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $230.00 price target (down from $286.00) on shares of ResMed in a research report on Wednesday, June 17th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, ResMed currently has an average rating of "Hold" and an average target price of $240.17.

ResMed Stock Down 0.1%

Shares of NYSE:RMD opened at $220.25 on Wednesday. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $31.95 billion, a P/E ratio of 21.12, a P/E/G ratio of 1.41 and a beta of 0.76. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.81. The stock's fifty day simple moving average is $205.01 and its 200-day simple moving average is $220.38.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, topping 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 firm had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter last year, the business posted $2.55 EPS. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts forecast that ResMed Inc. will post 12.03 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $2.64 annualized dividend and a dividend yield of 1.2%. This is an increase from ResMed's previous quarterly dividend of $0.60. ResMed's dividend payout ratio is 25.31%.

ResMed Company 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.

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