ResMed Inc. $RMD Shares Bought by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. increased its stake in ResMed Inc. by 42.0%, acquiring a total of 18,777 shares worth approximately $4.2 million following the purchase of additional shares in Q1.
• ResMed announced a quarterly dividend increase from $0.53 to $0.60 per share, reflecting an annualized dividend of $2.40 with a yield of 0.8%.
• Research analysts have issued mixed ratings on ResMed's shares, with a consensus rating of "Moderate Buy" and a price target averaging $274.83.

Northwest & Ethical Investments L.P. grew its position in ResMed Inc. (NYSE:RMD - Free Report) by 42.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,777 shares of the medical equipment provider's stock after buying an additional 5,551 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in ResMed were worth $4,203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of RMD. GAMMA Investing LLC grew its stake in shares of ResMed by 23,982.6% in the first quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider's stock valued at $164,207,000 after buying an additional 730,510 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of ResMed by 1,168.5% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 590,895 shares of the medical equipment provider's stock valued at $132,272,000 after buying an additional 544,311 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of ResMed by 813.4% in the fourth quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider's stock valued at $101,387,000 after buying an additional 394,803 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of ResMed by 133.6% in the fourth quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider's stock valued at $142,944,000 after buying an additional 357,466 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in ResMed by 334.0% during the 1st quarter. Allianz Asset Management GmbH now owns 455,124 shares of the medical equipment provider's stock worth $101,880,000 after purchasing an additional 350,245 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Performance

Shares of ResMed stock traded down $0.93 on Thursday, hitting $288.13. The stock had a trading volume of 907,868 shares, compared to its average volume of 999,426. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.08. 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 stock has a market cap of $42.19 billion, a price-to-earnings ratio of 30.30, a P/E/G ratio of 1.92 and a beta of 0.77. The company's 50 day moving average price is $267.02 and its 200 day moving average price is $244.16.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the business earned $2.08 EPS. The business's quarterly revenue was up 10.2% on a year-over-year basis. 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 paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $2.40 annualized dividend and a yield of 0.8%. This is a boost from ResMed's previous quarterly dividend of $0.53. ResMed's dividend payout ratio (DPR) is currently 25.24%.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the company's 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 $127,303,978.44. This represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 945 shares of the business's 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 transaction, the director owned 68,273 shares in the company, valued at $17,443,068.77. The trade was a 1.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,638 shares of company stock valued at $7,311,177 in the last ninety days. Insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. KeyCorp boosted their target price on ResMed from $274.00 to $298.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their target price on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. William Blair raised ResMed to a "strong-buy" rating in a research note on Friday, August 1st. Piper Sandler boosted their target price on ResMed from $248.00 to $270.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Finally, Morgan Stanley set a $286.00 target price on ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ResMed currently has an average rating of "Moderate Buy" and an average price target 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.