National Pension Service Buys 17,336 Shares of ResMed Inc. $RMD

Key Points

• The National Pension Service has increased its stake in ResMed Inc. by 8.1% during the first quarter, now owning approximately 0.16% of the company's shares valued at $51.76 million.
• CEO Michael J. Farrell sold 8,009 shares on August 7th, resulting in a 1.73% decrease in his ownership while retaining holdings valued at approximately $127.30 million.
• ResMed's quarterly earnings outperformed expectations with an EPS of $2.55, surpassing the consensus estimate of $2.47, alongside a 10.2% year-over-year revenue growth.

National Pension Service increased its position in ResMed Inc. (NYSE:RMD - Free Report) by 8.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 231,221 shares of the medical equipment provider's stock after purchasing an additional 17,336 shares during the period. National Pension Service owned 0.16% of ResMed worth $51,759,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of RMD. Global X Japan Co. Ltd. increased its stake in ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 68 shares in the last quarter. Colonial Trust Co SC lifted its stake in shares of ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after purchasing an additional 125 shares during the period. Optiver Holding B.V. acquired a new stake in ResMed in the 4th quarter worth about $33,000. Golden State Wealth Management LLC increased its position in ResMed by 384.8% during the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its position in ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after purchasing an additional 150 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 945 shares of the business's 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 transaction, the director owned 68,273 shares in the company, valued at approximately $17,443,068.77. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $279.48, for a total transaction of $2,238,355.32. Following the completion of the sale, the chief executive officer owned 455,503 shares in the company, valued at approximately $127,303,978.44. This trade represents 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 25,063 shares of company stock valued at $6,571,895. 0.71% of the stock is currently owned by company insiders.

ResMed Stock Performance

RMD stock traded down $1.2050 during trading on Tuesday, reaching $284.9150. 198,648 shares of the stock were exchanged, compared to its average volume of 995,110. The company has a market capitalization of $41.71 billion, a P/E ratio of 29.97, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. The stock has a 50 day simple moving average of $264.88 and a 200-day simple moving average of $243.23. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.08. 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 issued its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.08. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $2.08 EPS. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th will be paid a $0.60 dividend. 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 payout ratio is currently 25.24%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JPMorgan Chase & Co. increased their target price on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. William Blair upgraded ResMed to a "strong-buy" rating in a research report on Friday, August 1st. Mizuho boosted their price target on ResMed from $270.00 to $290.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. UBS Group upped their price objective on ResMed from $285.00 to $325.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Morgan Stanley set a $286.00 target price on ResMed and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $274.83.

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.