BDF Gestion Sells 1,159 Shares of ResMed Inc. $RMD

Key Points

• BDF Gestion reduced its stake in ResMed Inc. by 9.8%, owning 10,632 shares valued at approximately $2.74 million after selling 1,159 shares in Q2.
• A number of analysts have recently upgraded ResMed's stock ratings, with Citigroup initiating coverage with a buy rating and a target price of $330, contributing to a consensus rating of "Moderate Buy."
• ResMed announced a quarterly dividend increase to $0.60 per share, reflecting an annualized yield of 0.9%, up from the previous $0.53 per share dividend.

BDF Gestion decreased its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 9.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 10,632 shares of the medical equipment provider's stock after selling 1,159 shares during the period. BDF Gestion's holdings in ResMed were worth $2,743,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Diversified Trust Co bought a new stake in shares of ResMed in the 2nd quarter worth approximately $274,000. Assenagon Asset Management S.A. boosted its position in shares of ResMed by 264.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 39,708 shares of the medical equipment provider's stock worth $10,245,000 after purchasing an additional 28,801 shares in the last quarter. IFM Investors Pty Ltd boosted its position in shares of ResMed by 6.3% in the 2nd quarter. IFM Investors Pty Ltd now owns 28,249 shares of the medical equipment provider's stock worth $7,288,000 after purchasing an additional 1,671 shares in the last quarter. Bath Savings Trust Co bought a new stake in shares of ResMed in the 2nd quarter worth approximately $219,000. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of ResMed by 3.2% in the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 54,878 shares of the medical equipment provider's stock worth $14,159,000 after purchasing an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

ResMed Price Performance

RMD stock traded up $1.36 during trading on Tuesday, reaching $275.77. The company's stock had a trading volume of 291,117 shares, compared to its average volume of 993,285. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $40.38 billion, a P/E ratio of 29.00, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85. The company's fifty day moving average is $276.39 and its 200-day moving average is $250.79.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data 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. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The business's revenue was up 10.2% on a year-over-year basis. On average, research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th were issued a dividend of $0.60 per share. This is a boost from ResMed's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed's payout ratio is currently 25.24%.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $279.48, for a total value of $2,238,355.32. Following the completion of the transaction, the chief executive officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 945 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total transaction of $241,438.05. Following the completion of the transaction, the director directly owned 68,273 shares of the company's stock, valued at approximately $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 19,588 shares of company stock valued at $5,289,241 in the last 90 days. Insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Stifel Nicolaus boosted their price target on ResMed from $240.00 to $270.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. Wall Street Zen cut ResMed from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Royal Bank Of Canada upped their price objective on ResMed from $294.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. CLSA raised ResMed from a "hold" rating to an "outperform" rating in a research report on Tuesday, September 2nd. Finally, William Blair raised ResMed to a "strong-buy" rating in a research report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, ResMed presently has a consensus rating of "Buy" and an average target price of $292.00.

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.