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Groupama Asset Managment Makes New $247,000 Investment in ResMed Inc. $RMD

ResMed logo with Medical background

Key Points

  • Groupama Asset Management has acquired a new stake in ResMed Inc., purchasing 1,124 shares valued at approximately $247,000 in the 1st quarter of this year.
  • ResMed recently reported a quarterly earnings per share (EPS) of $2.55, exceeding analysts' expectations of $2.47, and its revenue for the quarter reached $1.35 billion, which is a 10.2% increase year-over-year.
  • The company has announced an increase in its quarterly dividend from $0.53 to $0.60, with the ex-dividend date set for August 13th.
  • Looking to export and analyze ResMed data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Groupama Asset Managment bought a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,124 shares of the medical equipment provider's stock, valued at approximately $247,000.

Several other large investors also recently added to or reduced their stakes in RMD. First Trust Advisors LP boosted its position in shares of ResMed by 150.3% in the fourth quarter. First Trust Advisors LP now owns 191,294 shares of the medical equipment provider's stock worth $43,747,000 after purchasing an additional 114,865 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of ResMed by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 742,412 shares of the medical equipment provider's stock worth $169,789,000 after purchasing an additional 65,999 shares in the last quarter. MML Investors Services LLC increased its stake in shares of ResMed by 31.9% in the fourth quarter. MML Investors Services LLC now owns 11,468 shares of the medical equipment provider's stock worth $2,623,000 after purchasing an additional 2,771 shares in the last quarter. Stifel Financial Corp increased its stake in shares of ResMed by 24.7% in the fourth quarter. Stifel Financial Corp now owns 71,508 shares of the medical equipment provider's stock worth $16,356,000 after purchasing an additional 14,149 shares in the last quarter. Finally, Dark Forest Capital Management LP increased its stake in shares of ResMed by 122.3% in the fourth quarter. Dark Forest Capital Management LP now owns 2,285 shares of the medical equipment provider's stock worth $523,000 after purchasing an additional 1,257 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 945 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total transaction of $241,438.05. Following the completion of the transaction, the director directly owned 68,273 shares of the company's stock, valued at approximately $17,443,068.77. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $279.48, for a total transaction of $2,238,355.32. Following the transaction, the chief executive officer directly owned 455,503 shares of the company's stock, valued at $127,303,978.44. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,638 shares of company stock valued at $7,311,177. Corporate insiders own 0.71% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of ResMed from $248.00 to $270.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Mizuho increased their price objective on shares of ResMed from $270.00 to $290.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Stifel Nicolaus increased their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a "hold" rating in a research note on Friday, August 1st. William Blair raised shares of ResMed to a "strong-buy" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada increased their price objective on shares of ResMed from $294.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $274.83.

Check Out Our Latest Stock Report on ResMed

ResMed Price Performance

RMD traded up $5.1380 during trading on Friday, hitting $293.4780. 627,080 shares of the company traded hands, compared to its average volume of 1,120,408. The company has a market cap of $42.97 billion, a PE ratio of 30.86, a P/E/G ratio of 1.97 and a beta of 0.77. The stock's 50-day simple moving average is $267.91 and its two-hundred day simple moving average is $244.59. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. 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 (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. The company had revenue of $1.35 billion during 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%. ResMed's quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $2.08 earnings per share. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 14th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This is a positive change from ResMed's previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a yield of 0.8%. ResMed's dividend payout ratio is 25.24%.

ResMed Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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