1,350 Shares in ResMed Inc. $RMD Acquired by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC invested approximately $302,000 in ResMed Inc. by purchasing 1,350 shares in the first quarter.
• ResMed recently announced a quarterly dividend increase from $0.53 to $0.60 per share, reflecting a positive change in shareholder returns.
• Several analysts raised their price targets for ResMed, with UBS Group upping theirs from $285.00 to $325.00, indicating strong market confidence in the stock.

MBB Public Markets I LLC bought a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,350 shares of the medical equipment provider's stock, valued at approximately $302,000.

Other hedge funds also recently bought and sold shares of the company. ICW Investment Advisors LLC lifted its position in shares of ResMed by 0.4% in the first quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider's stock valued at $2,551,000 after acquiring an additional 41 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in ResMed by 3.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider's stock valued at $269,000 after purchasing an additional 46 shares in the last quarter. E Fund Management Co. Ltd. lifted its holdings in ResMed by 2.8% in the 1st quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider's stock valued at $385,000 after purchasing an additional 47 shares in the last quarter. CVA Family Office LLC boosted its stake in shares of ResMed by 29.8% during the 1st quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock worth $47,000 after purchasing an additional 48 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its holdings in shares of ResMed by 9.7% during the first quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider's stock worth $126,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RMD. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Wall Street Zen lowered ResMed from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Mizuho raised 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. William Blair upgraded ResMed to a "strong-buy" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada increased their target price on ResMed from $294.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $278.36.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 945 shares of the stock in a transaction that occurred 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 sale, the director owned 68,273 shares of the company's stock, valued at approximately $17,443,068.77. This represents a 1.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Hernandez sold 2,575 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the sale, the director directly owned 4,045 shares of the company's stock, valued at approximately $1,161,319.50. This trade represents a 38.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,588 shares of company stock valued at $5,289,241. 0.71% of the stock is currently owned by corporate insiders.

ResMed Trading Up 0.5%

Shares of NYSE RMD traded up $1.25 on Monday, reaching $271.39. 940,941 shares of the company traded hands, compared to its average volume of 1,001,103. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The company has a 50 day moving average of $274.35 and a 200 day moving average of $248.99. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $39.74 billion, a PE ratio of 28.54, a P/E/G ratio of 1.80 and a beta of 0.85.

ResMed (NYSE:RMD - Get Free Report) last posted 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. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company posted $2.08 EPS. The company's quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 14th will be given a dividend of $0.60 per share. This is a boost from ResMed's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. ResMed's dividend payout ratio is currently 25.24%.

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.