United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Buys 100 Shares of ResMed Inc. (NYSE:RMD)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lifted its stake in ResMed Inc. (NYSE:RMD) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,300 shares of the medical equipment provider’s stock after purchasing an additional 100 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in ResMed were worth $739,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Global X Japan Co. Ltd. grew its holdings in ResMed by 121.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 68 shares in the last quarter. Colonial Trust Co SC grew its holdings in ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. bought a new position in ResMed during the 4th quarter worth about $33,000. Golden State Wealth Management LLC grew its holdings in ResMed by 384.8% during the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. grew its holdings in ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Performance

Shares of RMD opened at $278.78 on Friday. The stock has a 50 day moving average price of $256.59 and a 200 day moving average price of $240.32. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $40.88 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 1.69 and a beta of 0.77. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $281.90.

ResMed (NYSE:RMD) last released its quarterly 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. ResMed had a return on equity of 26.39% and a net margin of 27.22%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The firm 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 $0.60 dividend. The ex-dividend date is Wednesday, August 13th. This is a positive change from ResMed’s previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a yield of 0.9%. ResMed’s dividend payout ratio (DPR) is currently 22.29%.

Insiders Place Their Bets

In other ResMed news, Director Witte Jan De sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total value of $486,940.00. Following the sale, the director owned 5,806 shares of the company’s stock, valued at approximately $1,413,586.82. This represents a 25.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total value of $484,500.00. Following the sale, the director directly owned 71,218 shares in the company, valued at approximately $17,252,560.50. The trade was a 2.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,013 shares of company stock worth $7,238,913. 0.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RMD. Morgan Stanley set a $286.00 target price on shares of ResMed and gave the stock an “overweight” rating in a report on Tuesday, May 20th. Mizuho increased their target price on shares of ResMed from $270.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday. Royal Bank Of Canada raised their price target on shares of ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday. JPMorgan Chase & Co. raised their price target on shares of ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $274.83.

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.