S Bank Fund Management Ltd Makes New Investment in ResMed Inc. $RMD

Key Points

• S Bank Fund Management Ltd has invested approximately $314,000 by purchasing 1,404 shares of ResMed Inc., signifying a new position in the medical equipment provider.
• ResMed reported a 10.2% increase in revenue year-over-year, with earnings per share (EPS) of $2.55 for the last quarter, surpassing estimates.
• The company announced a quarterly dividend of $0.60, reflecting an increase from the previous $0.53, with an annualized yield of 0.8%.

S Bank Fund Management Ltd acquired a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,404 shares of the medical equipment provider's stock, valued at approximately $314,000.

Several other institutional investors have also recently bought and sold shares of RMD. 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 buying 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 buying 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 buying 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 buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Trading Up 0.4%

NYSE:RMD traded up $1.28 during trading hours on Monday, hitting $286.17. The company had a trading volume of 550,660 shares, compared to its average volume of 1,000,321. The company has a market capitalization of $41.90 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. The stock has a 50-day moving average price of $264.17 and a 200 day moving average price of $242.88. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53.

ResMed (NYSE:RMD - Get Free Report) last announced 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. The business 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 company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 earnings per share. On average, equities research 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 given a dividend of $0.60 per share. This is an increase from ResMed's previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, August 13th. ResMed's payout ratio is 25.24%.

Analyst Ratings Changes

Several research analysts have weighed in on RMD shares. Wall Street Zen downgraded shares of ResMed from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Morgan Stanley set a $286.00 target price on shares of ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Royal Bank Of Canada upped their target price on shares of ResMed from $294.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. KeyCorp increased their price target on shares of ResMed from $274.00 to $298.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Stifel Nicolaus increased their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, ResMed has a consensus rating of "Moderate Buy" and a consensus target price of $274.83.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 945 shares of the firm'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 completion of the transaction, the director owned 68,273 shares of the company's stock, valued at approximately $17,443,068.77. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Witte Jan De sold 2,000 shares of ResMed stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the transaction, the director directly owned 5,806 shares of the company's stock, valued at approximately $1,413,586.82. This represents a 25.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,063 shares of company stock valued at $7,058,835. 0.71% of the stock is currently owned by company insiders.

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.