Federation des caisses Desjardins du Quebec Acquires 1,431 Shares of ResMed Inc. $RMD

Key Points

• Federation des caisses Desjardins du Quebec increased its stake in ResMed Inc. by 1.9%, owning approximately $17.53 million worth of the company's stock after acquiring an additional 1,431 shares.
• ResMed has announced a quarterly dividend of $0.60, an increase from its previous dividend of $0.53, representing an annualized dividend yield of 0.9%.
• The company reported $1.35 billion in revenue for the quarter, exceeding estimates, with earnings per share of $2.55, highlighting a 10.2% increase in revenue year-over-year.

Federation des caisses Desjardins du Quebec raised its stake in ResMed Inc. (NYSE:RMD - Free Report) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,304 shares of the medical equipment provider's stock after acquiring an additional 1,431 shares during the period. Federation des caisses Desjardins du Quebec owned about 0.05% of ResMed worth $17,529,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Global X Japan Co. Ltd. grew its holdings in shares of ResMed by 121.4% during the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after buying an additional 68 shares in the last quarter. Colonial Trust Co SC raised its holdings in ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of ResMed by 384.8% during the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after buying an additional 127 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in ResMed during the 1st quarter worth $45,000. Finally, Groupe la Francaise acquired a new stake in shares of ResMed in the first quarter valued at about $45,000. Institutional investors own 54.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RMD. CLSA raised ResMed from a "hold" rating to an "outperform" rating in a research note on Tuesday, September 2nd. Stifel Nicolaus lifted their price objective on ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a research report on Friday, August 1st. KeyCorp boosted their target price on shares of ResMed from $274.00 to $298.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. UBS Group upped their price objective on ResMed from $285.00 to $325.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Wall Street Zen downgraded shares of ResMed from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ResMed currently has an average rating of "Moderate Buy" and an average price target of $278.36.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 945 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total transaction of $241,438.05. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Hernandez sold 2,575 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the transaction, the director owned 4,045 shares of the company's stock, valued at $1,161,319.50. This represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,597 shares of company stock valued at $7,301,182 over the last ninety days. 0.71% of the stock is owned by insiders.

ResMed Price Performance

Shares of NYSE RMD traded up $3.24 during midday trading on Friday, hitting $277.05. The company had a trading volume of 943,967 shares, compared to its average volume of 960,113. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $40.56 billion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 1.85 and a beta of 0.85. The business has a 50-day simple moving average of $272.54 and a two-hundred day simple moving average of $247.40. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 27.22% and a return on equity of 25.62%. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.08 earnings per share. Equities research analysts anticipate 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 dividend of $0.60 per share. This is an increase from ResMed's previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, August 14th. ResMed's dividend payout ratio is presently 25.24%.

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.