MassMutual Private Wealth & Trust FSB Has $18.03 Million Stock Holdings in ResMed Inc. $RMD

Key Points

• MassMutual Private Wealth & Trust FSB increased its stake in ResMed Inc. by 1.7%, now owning shares worth approximately $18.03 million.
• ResMed recently raised its quarterly dividend from $0.53 to $0.60, representing an annualized yield of 0.9%.
• Analysts are optimistic about ResMed, with several upgrading their ratings and price targets, signaling a strong growth outlook for the company.

MassMutual Private Wealth & Trust FSB raised its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,886 shares of the medical equipment provider's stock after purchasing an additional 1,147 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in ResMed were worth $18,031,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its holdings in ResMed by 5.5% during the second quarter. Parallel Advisors LLC now owns 1,812 shares of the medical equipment provider's stock valued at $468,000 after purchasing an additional 94 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs bought a new position in ResMed in the 1st quarter worth approximately $1,548,000. Swedbank AB increased its position in ResMed by 445.1% in the 1st quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider's stock worth $88,940,000 after buying an additional 324,428 shares during the period. Inspire Investing LLC increased its position in ResMed by 29.3% in the 1st quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider's stock worth $6,397,000 after buying an additional 6,472 shares during the period. Finally, Jacobi Capital Management LLC increased its position in ResMed by 11.0% in the 1st quarter. Jacobi Capital Management LLC now owns 1,248 shares of the medical equipment provider's stock worth $279,000 after buying an additional 124 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 945 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total value of $241,438.05. Following the completion of the sale, the director owned 68,273 shares in the company, valued at approximately $17,443,068.77. This represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $279.48, for a total value of $2,238,355.32. Following the completion of the sale, the chief executive officer owned 455,503 shares of the company's stock, valued at $127,303,978.44. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,588 shares of company stock worth $5,289,241. 0.71% of the stock is owned by insiders.

ResMed Trading Up 0.5%

RMD stock opened at $271.39 on Tuesday. The company has a market cap of $39.73 billion, a P/E ratio of 28.54, a PEG ratio of 1.80 and a beta of 0.85. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. 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 business has a fifty day moving average of $274.65 and a 200-day moving average of $249.25.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.08. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The firm's revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.08 earnings per share. As a group, equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 14th will be issued a $0.60 dividend. This is a boost 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 currently 25.24%.

Wall Street Analysts Forecast Growth

RMD has been the topic of several recent analyst reports. CLSA raised ResMed from a "hold" rating to an "outperform" rating in a research report on Tuesday, September 2nd. William Blair raised ResMed to a "strong-buy" rating in a research report on Friday, August 1st. Royal Bank Of Canada lifted their price target on ResMed from $294.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Morgan Stanley set a $286.00 price target on ResMed and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Finally, Mizuho lifted their price objective on ResMed from $270.00 to $290.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Two 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $278.36.

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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