B. Metzler seel. Sohn & Co. AG Buys 1,928 Shares of ResMed Inc. $RMD

Key Points

• B. Metzler seel. Sohn & Co. AG has increased its stake in ResMed Inc. by 28.2%, owning 8,758 shares worth approximately $1.96 million.
• ResMed recently raised its quarterly dividend from $0.53 to $0.60 per share, representing an annualized dividend yield of 0.9%.
• Analysts are optimistic about ResMed's stock, with several upgrades and a consensus target price now at $274.83, reflecting strong buy support.

B. Metzler seel. Sohn & Co. AG grew its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 28.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,758 shares of the medical equipment provider's stock after buying an additional 1,928 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in ResMed were worth $1,960,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Ballentine Partners LLC raised its position in shares of ResMed by 6.3% during the first quarter. Ballentine Partners LLC now owns 1,782 shares of the medical equipment provider's stock worth $399,000 after purchasing an additional 105 shares during the period. Golden State Wealth Management LLC raised its position in ResMed by 384.8% in the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock valued at $36,000 after buying an additional 127 shares during the last quarter. Exchange Traded Concepts LLC raised its position in ResMed by 393.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,529 shares of the medical equipment provider's stock valued at $566,000 after buying an additional 2,016 shares during the last quarter. Private Advisor Group LLC raised its position in ResMed by 18.3% in the 1st quarter. Private Advisor Group LLC now owns 3,244 shares of the medical equipment provider's stock valued at $726,000 after buying an additional 501 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in ResMed by 61.4% in the 4th quarter. BNP Paribas Financial Markets now owns 274,417 shares of the medical equipment provider's stock valued at $62,756,000 after buying an additional 104,377 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other news, Director John Hernandez sold 2,575 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the transaction, the director owned 4,045 shares in the company, valued at approximately $1,161,319.50. This represents a 38.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $279.48, for a total value of $2,238,355.32. Following the transaction, the chief executive officer owned 455,503 shares of the company's stock, valued at $127,303,978.44. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,597 shares of company stock worth $7,301,182. 0.71% of the stock is owned by company insiders.

ResMed Stock Performance

Shares of RMD stock traded down $3.29 on Wednesday, hitting $267.71. 980,826 shares of the stock were exchanged, compared to its average volume of 999,288. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $39.19 billion, a PE ratio of 28.15, a P/E/G ratio of 1.83 and a beta of 0.85. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The firm's 50 day moving average is $271.53 and its two-hundred day moving average is $246.55.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.08. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.08 EPS. 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 declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, August 14th. This is a positive change from ResMed's previous quarterly dividend of $0.53. ResMed's dividend payout ratio is currently 25.24%.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of analyst reports. Morgan Stanley set a $286.00 price target on ResMed and gave the company an "overweight" rating in a research report on Tuesday, May 20th. KeyCorp raised their target price on ResMed from $274.00 to $298.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. UBS Group raised their target price on ResMed from $285.00 to $325.00 and gave the company a "buy" rating in a research report on Friday, August 1st. William Blair raised ResMed to a "strong-buy" rating in a research report on Friday, August 1st. Finally, Wall Street Zen lowered ResMed from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $274.83.

ResMed Company 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.