AustralianSuper Pty Ltd Buys 166,257 Shares of ResMed Inc. (NYSE:RMD)

AustralianSuper Pty Ltd lifted its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 160.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 270,180 shares of the medical equipment provider's stock after acquiring an additional 166,257 shares during the period. AustralianSuper Pty Ltd owned approximately 0.18% of ResMed worth $60,480,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds 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 first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 68 shares during the last quarter. Colonial Trust Co SC raised its stake in shares of ResMed by 6,250.0% during 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 during the last quarter. Optiver Holding B.V. bought a new position in shares of ResMed during the fourth quarter valued at $33,000. Golden State Wealth Management LLC raised its stake 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 valued at $36,000 after acquiring an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its stake in shares of ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 54.98% of the company's stock.

ResMed Stock Up 0.5%

Shares of ResMed stock traded up $1.22 during trading hours on Friday, reaching $257.64. The company's stock had a trading volume of 894,150 shares, compared to its average volume of 970,763. ResMed Inc. has a one year low of $196.43 and a one year high of $263.05. The company has a market capitalization of $37.78 billion, a P/E ratio of 28.92, a P/E/G ratio of 1.61 and a beta of 0.77. The stock's fifty day simple moving average is $251.53 and its two-hundred day simple moving average is $237.58. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.49 and a current ratio of 3.41.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the firm earned $2.13 earnings per share. The business's quarterly revenue was up 7.9% compared to the same quarter last year. On average, research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Thursday, May 8th. ResMed's payout ratio is currently 23.79%.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total transaction of $484,500.00. Following the transaction, the director directly owned 71,218 shares of the company's stock, valued at $17,252,560.50. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Witte Jan De sold 2,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total transaction of $486,940.00. Following the transaction, the director directly owned 5,806 shares in the company, valued at $1,413,586.82. The trade was a 25.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,013 shares of company stock valued at $7,238,913 over the last ninety days. Corporate insiders own 0.71% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on RMD shares. Royal Bank Of Canada upgraded shares of ResMed from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $255.00 to $294.00 in a research report on Tuesday, July 15th. Mizuho increased their price objective on shares of ResMed from $250.00 to $270.00 and gave the stock an "outperform" rating in a research report on Wednesday. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Wall Street Zen cut shares of ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and a consensus price target of $263.00.

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.