ResMed Inc. (NYSE:RMD) Shares Acquired by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its stake in ResMed Inc. by 7.9%, acquiring an additional 4,500 shares, bringing its total holdings to 61,611 shares valued at approximately $13.79 million.
• Research analysts have boosted their price targets for ResMed, with the highest from Royal Bank Of Canada now set at $300.00, suggesting strong potential upside for the stock.
• ResMed declared a dividend increase to $0.60 per share, up from $0.53, with an ex-dividend date set for August 13th, showing a commitment to returning value to shareholders.

Natixis Advisors LLC raised its position in ResMed Inc. (NYSE:RMD - Free Report) by 7.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,611 shares of the medical equipment provider's stock after purchasing an additional 4,500 shares during the quarter. Natixis Advisors LLC's holdings in ResMed were worth $13,792,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. lifted its stake in ResMed by 32.2% in the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after acquiring an additional 566,046 shares during the last quarter. Northern Trust Corp lifted its position in shares of ResMed by 20.6% during the 4th quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider's stock worth $389,365,000 after buying an additional 290,664 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in ResMed by 28.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 954,612 shares of the medical equipment provider's stock worth $218,310,000 after purchasing an additional 212,201 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of ResMed by 15.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 773,159 shares of the medical equipment provider's stock valued at $173,072,000 after acquiring an additional 104,251 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in ResMed by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 742,412 shares of the medical equipment provider's stock valued at $169,789,000 after buying an additional 65,999 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Trading Down 2.3%

RMD stock traded down $6.72 during mid-day trading on Tuesday, hitting $284.72. 1,624,388 shares of the company were exchanged, compared to its average volume of 1,070,886. The business has a fifty day simple moving average of $257.55 and a 200-day simple moving average of $240.75. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.08. The firm has a market capitalization of $41.75 billion, a P/E ratio of 29.94, a PEG ratio of 1.96 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.33 billion. During the same period in the prior year, the business earned $2.08 EPS. The firm's quarterly revenue was up 10.2% on a year-over-year basis. On average, equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.60 per share. This is an increase from ResMed's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. ResMed's dividend payout ratio is presently 22.29%.

Analyst Ratings Changes

Several research analysts have commented on the company. Royal Bank Of Canada lifted their target price on ResMed from $294.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday. William Blair upgraded ResMed to a "strong-buy" rating in a research note on Friday. KeyCorp lifted their price target on ResMed from $274.00 to $298.00 and gave the company an "overweight" rating in a research note on Friday. Mizuho boosted their price target on shares of ResMed from $270.00 to $290.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Stifel Nicolaus boosted their target price on shares of ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $274.83.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of ResMed 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 directly owned 455,503 shares in the company, valued at $116,936,730.16. This trade represents a 1.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Witte Jan De sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the sale, the director directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,063 shares of company stock valued at $7,253,008. Insiders own 0.71% of the company's stock.

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.