ResMed Inc. $RMD Stock Position Cut by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. has reduced its holdings in ResMed Inc. by 9.9%, now owning approximately 0.08% of the company, valued at $23.3 million.
• ResMed reported $2.55 EPS for the last quarter, surpassing analyst expectations and marking a 10.2% increase in revenue year-over-year.
• The company has announced a dividend increase to $0.60 per share, with a payment date of September 18th, representing a yield of 0.8%.

APG Asset Management N.V. cut its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,376 shares of the medical equipment provider's stock after selling 12,379 shares during the quarter. APG Asset Management N.V. owned about 0.08% of ResMed worth $23,288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RMD. Smartleaf Asset Management LLC boosted its position in shares of ResMed by 3.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider's stock valued at $269,000 after purchasing an additional 46 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in ResMed by 4.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,966 shares of the medical equipment provider's stock valued at $1,112,000 after purchasing an additional 201 shares during the last quarter. Groupe la Francaise acquired a new stake in ResMed during the first quarter valued at $45,000. AlphaQuest LLC grew its position in ResMed by 16.5% in the first quarter. AlphaQuest LLC now owns 3,450 shares of the medical equipment provider's stock worth $772,000 after acquiring an additional 488 shares in the last quarter. Finally, Compound Planning Inc. grew its position in ResMed by 17.4% in the first quarter. Compound Planning Inc. now owns 1,263 shares of the medical equipment provider's stock worth $283,000 after acquiring an additional 187 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Trading Up 1.8%

Shares of RMD opened at $293.4780 on Monday. The stock has a fifty day moving average price of $267.91 and a two-hundred day moving average price of $244.59. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a market cap of $42.97 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 1.97 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) 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 firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the company posted $2.08 EPS. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th will be issued 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 positive change from ResMed's previous quarterly dividend of $0.53. ResMed's dividend payout ratio (DPR) is currently 25.24%.

Wall Street Analysts Forecast Growth

Several analysts have commented on RMD shares. KeyCorp boosted their target price on shares of ResMed from $274.00 to $298.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Royal Bank Of Canada lifted their price target on shares of ResMed from $294.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Morgan Stanley set a $286.00 price target on shares of ResMed and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Finally, Stifel Nicolaus lifted their price target on shares of ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $274.83.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 945 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total transaction of $241,438.05. Following the transaction, the director owned 68,273 shares of the company's stock, valued at approximately $17,443,068.77. This represents a 1.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction 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 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 27,638 shares of company stock valued at $7,311,177. 0.71% of the stock is currently owned by corporate insiders.

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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