Public Employees Retirement System of Ohio increased its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,395 shares of the medical equipment provider's stock after buying an additional 967 shares during the quarter. Public Employees Retirement System of Ohio's holdings in ResMed were worth $14,034,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Ballentine Partners LLC boosted its holdings in ResMed by 6.3% in the first quarter. Ballentine Partners LLC now owns 1,782 shares of the medical equipment provider's stock valued at $399,000 after purchasing an additional 105 shares during the last quarter. Inspire Investing LLC boosted its holdings in ResMed by 29.3% in the first quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider's stock valued at $6,397,000 after purchasing an additional 6,472 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of ResMed by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 977,401 shares of the medical equipment provider's stock worth $218,791,000 after acquiring an additional 22,789 shares during the period. Intech Investment Management LLC raised its position in shares of ResMed by 63.2% in the first quarter. Intech Investment Management LLC now owns 15,325 shares of the medical equipment provider's stock worth $3,430,000 after acquiring an additional 5,934 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of ResMed by 8.5% in the first quarter. Goldman Sachs Group Inc. now owns 739,007 shares of the medical equipment provider's stock worth $165,427,000 after acquiring an additional 58,155 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.
ResMed Trading Up 1.2%
NYSE RMD opened at $270.54 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The firm's fifty day moving average price is $277.76 and its 200 day moving average price is $251.65. The company has a market capitalization of $39.61 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 1.80 and a beta of 0.85. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81.
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, 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 company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the firm posted $2.08 EPS. ResMed's revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.
ResMed Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This is a positive change from ResMed's previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed's payout ratio is presently 25.24%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on RMD. William Blair raised shares of ResMed to a "strong-buy" rating in a research note on Friday, August 1st. Mizuho increased their price target on shares of ResMed from $270.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. CLSA raised shares of ResMed from a "hold" rating to an "outperform" rating in a research report on Tuesday, September 2nd. Piper Sandler increased their price objective on shares of ResMed from $248.00 to $270.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada increased their target price on shares of ResMed from $294.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $294.20.
Get Our Latest Stock Analysis on RMD
Insider Activity
In related news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $279.48, for a total value of $2,238,355.32. Following the completion of the sale, the chief executive officer owned 455,503 shares in the company, valued at $127,303,978.44. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. Farrell sold 945 shares of the firm's stock in a transaction dated 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 $17,443,068.77. This trade represents a 1.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,588 shares of company stock valued at $5,289,241 over the last quarter. Corporate insiders own 0.71% of the company's stock.
About ResMed
(
Free Report)
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.
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