Robeco Institutional Asset Management B.V. Has $21.53 Million Stake in ResMed Inc. $RMD

Key Points

• Robeco Institutional Asset Management increased its stake in ResMed Inc. by 7.8% during the second quarter, owning 83,451 shares valued at approximately $21.53 million.
• Insider trading reports indicate that CEO Michael J. Farrell and Director John Hernandez sold a combined total of 10,584 shares of ResMed stock, reflecting a decrease in their personal holdings in the company.
• ResMed recently announced a quarterly dividend increase to $0.60 per share, marking a dividend yield of 0.9% based on its annualized payments.

Robeco Institutional Asset Management B.V. raised its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 7.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 83,451 shares of the medical equipment provider's stock after buying an additional 6,009 shares during the period. Robeco Institutional Asset Management B.V. owned 0.06% of ResMed worth $21,530,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Global X Japan Co. Ltd. increased its position in shares of ResMed by 121.4% in the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 68 shares during the last quarter. Golden State Wealth Management LLC grew its stake in ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 127 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in ResMed in the first quarter valued at approximately $45,000. Groupe la Francaise acquired a new position in shares of ResMed during the 1st quarter worth approximately $45,000. Finally, CVA Family Office LLC raised its stake in shares of ResMed by 29.8% during the 1st quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock worth $47,000 after purchasing an additional 48 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 8,009 shares of ResMed 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 document filed with the SEC, which is accessible through the SEC website. Also, Director John Hernandez sold 2,575 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the transaction, the director directly owned 4,045 shares in the company, valued at approximately $1,161,319.50. This represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,743 shares of company stock valued at $5,075,239. Insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RMD shares. Citigroup initiated coverage on ResMed in a report on Thursday, September 18th. They issued a "buy" rating and a $330.00 price objective for the company. Royal Bank Of Canada upped their price target on shares of ResMed from $294.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. UBS Group upgraded shares of ResMed to a "strong-buy" rating in a research note on Tuesday, September 16th. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Stifel Nicolaus raised their target price on shares of ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $294.20.

ResMed Price Performance

Shares of RMD opened at $278.48 on Friday. The company's 50-day moving average is $278.16 and its 200-day moving average is $253.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The firm has a market capitalization of $40.77 billion, a PE ratio of 29.28, a PEG ratio of 1.87 and a beta of 0.83. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81.

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

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. This is an increase from ResMed's previous quarterly dividend of $0.53. The ex-dividend date was Thursday, August 14th. ResMed's dividend payout ratio is 25.24%.

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.

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