MASTERINVEST Kapitalanlage GmbH Takes $3.77 Million Position in ResMed Inc. $RMD

Key Points

• MASTERINVEST Kapitalanlage GmbH acquired 19,371 ResMed shares during the second quarter, valued at approximately $3.77 million. Institutional investors and hedge funds collectively own 54.98% of the company.
• ResMed reported quarterly earnings of $2.95 per share, beating estimates by $0.06, while revenue rose 8.6% year over year to $1.46 billion. The company also increased its quarterly dividend from $0.60 to $0.66 per share.
• Analysts maintain a consensus “Hold” rating with a $239.38 price target, while recent insider activity included $4.89 million in stock sales over the past 90 days.

MASTERINVEST Kapitalanlage GmbH bought a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 19,371 shares of the medical equipment provider's stock, valued at approximately $3,775,000.

Other institutional investors have also added to or reduced their stakes in the company. Imprint Wealth LLC bought a new position in ResMed during the third quarter valued at about $26,000. WFA of San Diego LLC bought a new stake in shares of ResMed in the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC bought a new stake in shares of ResMed in the 4th quarter worth approximately $25,000. Sunbelt Securities Inc. acquired a new stake in shares of ResMed during the 3rd quarter worth approximately $31,000. Finally, Bell Investment Advisors Inc acquired a new stake in shares of ResMed during the 2nd quarter worth approximately $26,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Performance

ResMed stock opened at $235.64 on Friday. The firm has a market capitalization of $33.99 billion, a P/E ratio of 22.59, a P/E/G ratio of 1.48 and a beta of 0.76. The stock has a fifty day moving average price of $210.78 and a two-hundred day moving average price of $219.03. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $284.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.89 by $0.06. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company earned $2.55 EPS. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, analysts anticipate that ResMed Inc. will post 12.03 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently disclosed 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. This is a positive change from ResMed's previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 20th. ResMed's payout ratio is currently 25.31%.

Wall Street Analyst Weigh In

RMD has been the subject of a number of recent research reports. Weiss Ratings upgraded ResMed from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada lifted their price target on shares of ResMed from $234.00 to $244.00 and gave the stock a "sector perform" rating in a research note on Friday, August 7th. UBS Group restated a "buy" rating and issued a $300.00 price objective on shares of ResMed in a research note on Tuesday, July 21st. Morgan Stanley reaffirmed an "equal weight" rating and set a $230.00 price objective (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. Finally, Jefferies Financial Group reduced their price objective on shares of ResMed from $240.00 to $225.00 and set a "hold" rating for the company in a report on Friday, July 10th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $239.38.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the firm's stock in a transaction on Friday, August 7th. The stock was 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 of the company's stock, valued at $95,904,196.64. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of ResMed stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total value of $1,800,000.00. Following the completion of the transaction, the director owned 52,773 shares of the company's stock, valued at approximately $11,873,925. The trade was a 13.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 22,973 shares of company stock valued at $4,885,436. Company insiders own 0.65% of the company's stock.

About ResMed

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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