ST Germain D J Co. Inc. boosted its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,536 shares of the medical equipment provider's stock after buying an additional 1,526 shares during the quarter. ResMed makes up 1.1% of ST Germain D J Co. Inc.'s holdings, making the stock its 29th biggest holding. ST Germain D J Co. Inc. owned approximately 0.07% of ResMed worth $24,648,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in RMD. Global X Japan Co. Ltd. boosted its stake in shares of ResMed by 121.4% during the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 68 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of ResMed by 384.8% during 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 acquired a new stake in shares of ResMed during the first quarter valued at about $45,000. Groupe la Francaise acquired a new stake in shares of ResMed during the first quarter valued at about $45,000. Finally, CVA Family Office LLC boosted its stake in shares of ResMed by 29.8% during the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock valued at $47,000 after purchasing an additional 48 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Mizuho lifted their price target on ResMed from $270.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. UBS Group upgraded ResMed to a "strong-buy" rating in a research report on Tuesday, September 16th. Piper Sandler raised their price objective on ResMed from $248.00 to $270.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, KeyCorp raised their price objective on ResMed from $274.00 to $298.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $294.20.
Check Out Our Latest Stock Report on ResMed
Insider Buying and Selling at ResMed
In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the business'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 value of $2,238,355.32. Following the transaction, the chief executive officer directly owned 455,503 shares of the company's stock, valued at approximately $127,303,978.44. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Hernandez sold 2,575 shares of the business's stock in a transaction that occurred 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 trade represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,588 shares of company stock valued at $5,289,241. 0.71% of the stock is currently owned by company insiders.
ResMed Price Performance
Shares of RMD opened at $267.62 on Friday. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The business's 50 day moving average price is $277.50 and its two-hundred day moving average price is $251.34. The firm has a market cap of $39.18 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.84 and a beta of 0.85.
ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. The company's revenue was up 10.2% compared to the same quarter last year. On average, equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.9%. This is a boost from ResMed's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, August 14th. ResMed's payout ratio is presently 25.24%.
About ResMed
(
Free Report)
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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