ResMed Inc. (NYSE:RMD) Shares Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd raised its stake in ResMed Inc. (NYSE:RMD - Free Report) by 1,168.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 590,895 shares of the medical equipment provider's stock after purchasing an additional 544,311 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned 0.40% of ResMed worth $132,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in RMD. Global X Japan Co. Ltd. raised its stake in shares of ResMed by 121.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 68 shares in the last quarter. Colonial Trust Co SC boosted its stake in ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. purchased a new position in ResMed in the fourth quarter worth $33,000. Golden State Wealth Management LLC increased its position in shares of 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 in the last quarter. Finally, Itau Unibanco Holding S.A. lifted its holdings in shares of 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 valued at $38,000 after purchasing an additional 150 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on RMD. Mizuho set a $265.00 target price on ResMed in a research note on Wednesday, April 16th. Royal Bank Of Canada raised their price target on ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. KeyCorp set a $274.00 target price on shares of ResMed in a research note on Thursday, April 24th. Finally, Morgan Stanley set a $286.00 target price on shares of ResMed and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ResMed currently has a consensus rating of "Moderate Buy" and an average target price of $259.33.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $256.72, for a total transaction of $2,056,070.48. Following the sale, the chief executive officer owned 455,503 shares in the company, valued at approximately $116,936,730.16. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Witte Jan De sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the completion of the transaction, the director owned 5,806 shares of the company's stock, valued at approximately $1,413,586.82. This trade represents a 25.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,013 shares of company stock valued at $7,238,913 in the last 90 days. 0.71% of the stock is currently owned by company insiders.

ResMed Stock Performance

NYSE:RMD traded down $0.31 during mid-day trading on Monday, hitting $254.09. The company's stock had a trading volume of 925,026 shares, compared to its average volume of 978,462. The business's fifty day moving average is $250.36 and its two-hundred day moving average is $236.77. The stock has a market cap of $37.26 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 1.59 and a beta of 0.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.49. ResMed Inc. has a 1 year low of $196.43 and a 1 year high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.13 EPS. Analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were given a $0.53 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.83%. ResMed's dividend payout ratio is presently 23.79%.

ResMed 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.