Mn Services Vermogensbeheer B.V. Purchases 1,700 Shares of ResMed Inc. $RMD

Key Points

• Mn Services Vermogensbeheer B.V. increased its holdings in ResMed Inc. by 3.2% in the 2nd quarter, now owning 54,878 shares valued at approximately $14.16 million.
• Several institutional investors, including Goldman Sachs and Intech Investment Management, have also raised their stakes in ResMed, contributing to a total institutional ownership of 54.98%.
• ResMed recently reported better-than-expected financial results for the quarter, with $2.55 EPS and a revenue of $1.35 billion, indicating a 10.2% year-over-year growth in revenue.

Mn Services Vermogensbeheer B.V. raised its stake in ResMed Inc. (NYSE:RMD - Free Report) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,878 shares of the medical equipment provider's stock after acquiring an additional 1,700 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in ResMed were worth $14,159,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RMD. State of Wyoming bought a new stake in shares of ResMed in the 4th quarter worth approximately $123,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in ResMed by 28.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 954,612 shares of the medical equipment provider's stock valued at $218,310,000 after buying an additional 212,201 shares in the last quarter. Focus Partners Advisor Solutions LLC increased its stake in shares of ResMed by 21.6% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 1,978 shares of the medical equipment provider's stock worth $452,000 after purchasing an additional 352 shares during the period. Novem Group bought a new position in ResMed during the fourth quarter valued at about $813,000. Finally, McIlrath & Eck LLC boosted its holdings in ResMed by 438.5% during the fourth quarter. McIlrath & Eck LLC now owns 210 shares of the medical equipment provider's stock valued at $48,000 after purchasing an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of ResMed from $248.00 to $270.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. CLSA raised shares of ResMed from a "hold" rating to an "outperform" rating in a report on Tuesday, September 2nd. Royal Bank Of Canada raised their price target 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. KeyCorp upped their target price on shares of ResMed from $274.00 to $298.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, UBS Group raised ResMed to a "strong-buy" rating in a report on Tuesday, September 16th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, ResMed has an average rating of "Buy" and a consensus target price of $292.00.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 945 shares of the stock in a transaction that occurred on 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 directly owned 68,273 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the director owned 4,045 shares in the company, valued at $1,161,319.50. The trade was a 38.90% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,588 shares of company stock worth $5,289,241. 0.71% of the stock is owned by corporate insiders.

ResMed Trading Up 0.0%

Shares of ResMed stock traded up $0.10 during trading on Monday, reaching $273.29. 137,255 shares of the stock were exchanged, compared to its average volume of 994,922. The firm has a market cap of $40.01 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85. 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 stock's fifty day moving average is $275.98 and its 200 day moving average is $250.50. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81.

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

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 14th were given a $0.60 dividend. This is a positive change from ResMed's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.9%. ResMed's payout ratio is currently 25.24%.

About ResMed

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.