National Pension Service Has $54.85 Million Stock Position in ResMed Inc. $RMD

Key Points

• National Pension Service increased its ResMed stake by 15.5% in the second quarter, holding 281,465 shares valued at approximately $54.85 million. Institutional investors collectively own 54.98% of the company.
• ResMed exceeded quarterly earnings expectations, reporting $2.95 in EPS on $1.46 billion in revenue, with revenue up 8.6% year over year. The company also raised its quarterly dividend to $0.66 per share, implying a 1.2% annual yield.
• Insiders sold 23,943 shares worth $5.26 million during the last quarter, while analysts maintain a consensus “Hold” rating and an average price target of $240.31 versus the stock’s $218.28 opening price.

National Pension Service boosted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 15.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 281,465 shares of the medical equipment provider's stock after purchasing an additional 37,680 shares during the period. National Pension Service owned 0.20% of ResMed worth $54,852,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of RMD. WINTON GROUP Ltd acquired a new stake in shares of ResMed in the 2nd quarter valued at approximately $1,540,000. Engineers Gate Manager LP increased its holdings in ResMed by 77.8% during the second quarter. Engineers Gate Manager LP now owns 8,127 shares of the medical equipment provider's stock worth $1,584,000 after buying an additional 3,555 shares during the last quarter. C WorldWide Group Holding A S increased its holdings in ResMed by 7.2% during the second quarter. C WorldWide Group Holding A S now owns 59,987 shares of the medical equipment provider's stock worth $11,690,000 after buying an additional 4,048 shares during the last quarter. IFP Advisors Inc raised its position in ResMed by 40.0% during the second quarter. IFP Advisors Inc now owns 1,754 shares of the medical equipment provider's stock worth $342,000 after acquiring an additional 501 shares in the last quarter. Finally, Allworth Financial LP raised its position in ResMed by 26.6% during the second quarter. Allworth Financial LP now owns 1,286 shares of the medical equipment provider's stock worth $251,000 after acquiring an additional 270 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the transaction, the director owned 52,773 shares in the company, valued at $11,873,925. This trade represents a 13.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction on Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the sale, the chief executive officer directly owned 466,256 shares of the company's stock, valued at $95,904,196.64. This represents a 1.06% 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 quarter, insiders have sold 23,943 shares of company stock worth $5,255,268. 0.65% of the stock is owned by corporate insiders.

ResMed Stock Performance

NYSE RMD opened at $218.28 on Friday. The stock has a market cap of $31.49 billion, a PE ratio of 20.93, a P/E/G ratio of 1.38 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 3.10. The firm has a 50-day moving average of $217.39 and a 200-day moving average of $217.00. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $284.87.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.06. The firm had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.46 billion. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The business's revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.55 EPS. On average, sell-side analysts anticipate that ResMed Inc. will post 12.02 EPS for the current year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from ResMed's previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 20th. ResMed's dividend payout ratio is 25.31%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. KeyCorp lifted their price objective on shares of ResMed from $255.00 to $267.00 and gave the company an "overweight" rating in a research report on Monday, August 31st. Citigroup reaffirmed a "neutral" rating on shares of ResMed in a report on Thursday. UBS Group reiterated a "buy" rating and set a $300.00 price target on shares of ResMed in a report on Tuesday, July 21st. Jefferies Financial Group lowered their price target on ResMed from $240.00 to $225.00 and set a "hold" rating on the stock in a research report on Friday, July 10th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of ResMed in a research note on Wednesday, July 1st. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, ResMed currently has a consensus rating of "Hold" and a consensus price target of $240.31.

About ResMed

ResMed Inc is a medical equipment and software company that develops products and services for the diagnosis and treatment of sleep-disordered breathing and other respiratory conditions. Its offerings include continuous positive airway pressure (CPAP) and other positive airway pressure devices, masks, ventilation systems, oxygen-related solutions, and connected health technologies.

The company also provides cloud-based software and digital health platforms that help clinicians, home medical equipment providers, and patients monitor therapy, manage equipment, and support adherence to treatment.

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