ResMed Inc. $RMD Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

Key Points

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BI Asset Management Fondsmaeglerselskab A S increased its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 24.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,736 shares of the medical equipment provider's stock after acquiring an additional 18,660 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned about 0.07% of ResMed worth $21,431,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in ResMed by 23,982.6% in the 1st quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider's stock valued at $164,207,000 after purchasing an additional 730,510 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in ResMed by 1,168.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 590,895 shares of the medical equipment provider's stock valued at $132,272,000 after purchasing an additional 544,311 shares in the last quarter. Captrust Financial Advisors raised its position in ResMed by 813.4% in the 4th quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider's stock valued at $101,387,000 after purchasing an additional 394,803 shares in the last quarter. AQR Capital Management LLC raised its position in ResMed by 133.6% in the 4th quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider's stock valued at $142,944,000 after purchasing an additional 357,466 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in ResMed by 334.0% in the 1st quarter. Allianz Asset Management GmbH now owns 455,124 shares of the medical equipment provider's stock valued at $101,880,000 after purchasing an additional 350,245 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $279.48, for a total transaction of $2,238,355.32. Following the completion of the sale, the chief executive officer directly owned 455,503 shares of the company's stock, valued at approximately $127,303,978.44. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 945 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total value of $241,438.05. Following the sale, the director directly owned 68,273 shares of the company's stock, valued at $17,443,068.77. The trade was a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,063 shares of company stock valued at $6,571,895 over the last ninety days. 0.71% of the stock is owned by insiders.

ResMed Trading Up 0.4%

NYSE:RMD opened at $286.17 on Tuesday. The stock's 50 day moving average price is $264.88 and its 200 day moving average price is $243.23. The company has a market capitalization of $41.90 billion, a PE ratio of 30.09, a P/E/G ratio of 1.91 and a beta of 0.77. 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 52-week low of $199.92 and a 52-week high of $293.08.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly 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. The firm had revenue of $1.35 billion for 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 last year, the business posted $2.08 EPS. On average, research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 13th. This is a positive change from ResMed's previous quarterly dividend of $0.53. ResMed's payout ratio is 25.24%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RMD. Piper Sandler increased their price target on ResMed from $248.00 to $270.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Royal Bank Of Canada increased their price target on ResMed from $294.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. increased their price objective on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Finally, Stifel Nicolaus increased their price objective on ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $274.83.

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.

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