ResMed Inc. $RMD Shares Purchased by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in ResMed Inc. by 10.4% in Q1, bringing its total ownership to 416,043 shares valued at approximately $93.1 million.
• Insider transactions include Director Peter C. Farrell selling 945 shares valued at over $241,000, while Director John Hernandez sold 2,575 shares for about $739,000, indicating significant changes in insider holdings.
• ResMed recently announced an increase in its quarterly dividend from $0.53 to $0.60, reflecting a positive growth trend for the company.

Caisse DE Depot ET Placement DU Quebec increased its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 416,043 shares of the medical equipment provider's stock after purchasing an additional 39,152 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.28% of ResMed worth $93,131,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global X Japan Co. Ltd. raised its holdings in ResMed by 121.4% during the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 68 shares during the last quarter. Colonial Trust Co SC raised its holdings in ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after purchasing an additional 125 shares during the last quarter. Optiver Holding B.V. acquired a new position in ResMed during the fourth quarter worth $33,000. Golden State Wealth Management LLC raised its holdings in ResMed by 384.8% during the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its holdings in 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 worth $38,000 after purchasing an additional 150 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 Peter C. Farrell sold 945 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total value 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 represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Hernandez sold 2,575 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the sale, the director directly owned 4,045 shares of the company's stock, valued at $1,161,319.50. The trade was a 38.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,638 shares of company stock valued at $7,311,177 over the last quarter. Company insiders own 0.71% of the company's stock.

ResMed Stock Performance

ResMed stock opened at $285.76 on Tuesday. The firm has a market capitalization of $41.84 billion, a P/E ratio of 30.05, a PEG ratio of 1.97 and a beta of 0.77. The stock has a fifty day moving average price of $268.59 and a 200 day moving average price of $244.93. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.47 by $0.08. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The business's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.08 earnings per share. Equities research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th will be given a $0.60 dividend. 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. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. ResMed's dividend payout ratio (DPR) is currently 25.24%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RMD. Morgan Stanley set a $286.00 price target on ResMed and gave the stock an "overweight" rating in a report on Tuesday, May 20th. KeyCorp boosted their price target on ResMed from $274.00 to $298.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Mizuho boosted their price target on ResMed from $270.00 to $290.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Piper Sandler boosted their price target on ResMed from $248.00 to $270.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Finally, Wall Street Zen cut ResMed from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $274.83.

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.

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