UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 9,064 Shares of ResMed Inc. $RMD

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in ResMed Inc. (NYSE:RMD - Free Report) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 858,134 shares of the medical equipment provider's stock after purchasing an additional 9,064 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.59% of ResMed worth $167,233,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RMD. International Assets Investment Management LLC acquired a new stake in shares of ResMed during the fourth quarter worth $25,000. Bell Investment Advisors Inc bought a new stake in shares of ResMed in the second quarter valued at about $26,000. Imprint Wealth LLC acquired a new position in shares of ResMed in the third quarter valued at about $26,000. WFA of San Diego LLC bought a new position in ResMed during the second quarter worth about $26,000. Finally, Sunbelt Securities Inc. bought a new position in ResMed during the third quarter worth about $31,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on RMD shares. Citigroup reissued a "neutral" rating and issued a $235.00 price objective (down from $270.00) on shares of ResMed in a report on Sunday, July 12th. The Goldman Sachs Group reiterated a "buy" rating on shares of ResMed in a research report on Wednesday, July 1st. Weiss Ratings upgraded ResMed from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Rothschild & Co Redburn assumed coverage on ResMed in a research report on Wednesday, August 19th. They set a "neutral" rating and a $230.00 price target on the stock. Finally, Robert W. Baird set a $213.00 price target on ResMed in a research report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $240.31.

ResMed Trading Down 3.5%

Shares of ResMed stock opened at $231.62 on Wednesday. The company has a market capitalization of $33.41 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 1.51 and a beta of 0.77. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 12-month low of $180.26 and a 12-month high of $284.87. The firm's 50-day moving average price is $213.65 and its two-hundred day moving average price is $218.42.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.89 by $0.06. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The company had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the previous year, the company earned $2.55 EPS. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts forecast that ResMed Inc. will post 12.03 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.66 per share. The ex-dividend date is Thursday, August 20th. This is a boost from ResMed's previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a yield of 1.1%. ResMed's dividend payout ratio is currently 25.31%.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the completion of the transaction, the chief executive officer owned 466,256 shares of the company's stock, valued at approximately $95,904,196.64. The trade was a 1.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the sale, the director owned 52,773 shares of the company's stock, valued at approximately $11,873,925. This represents a 13.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,973 shares of company stock valued at $4,885,436 over the last 90 days. Corporate insiders own 0.65% of the company's stock.

ResMed Profile

ResMed NYSE: RMD is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed's product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.

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