S Bank Fund Management Ltd Invests $314,000 in ResMed Inc. (NYSE:RMD)

S Bank Fund Management Ltd purchased a new position in shares of ResMed Inc. (NYSE:RMD) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,404 shares of the medical equipment provider’s stock, valued at approximately $314,000.

Other hedge funds have also made changes to their positions in the company. Global X Japan Co. Ltd. boosted its holdings in ResMed by 121.4% in the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 68 shares during the period. Colonial Trust Co SC lifted its stake in ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 125 shares during the last quarter. Optiver Holding B.V. bought a new stake in ResMed in the fourth quarter valued at $33,000. Golden State Wealth Management LLC lifted 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 buying an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. lifted its stake in ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $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.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RMD shares. Royal Bank Of Canada raised their target price on ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. KeyCorp raised their target price on ResMed from $274.00 to $298.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Stifel Nicolaus raised their target price on ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, August 1st. Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $274.83.

ResMed Trading Up 1.7%

NYSE:RMD opened at $288.15 on Thursday. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.08. The business’s 50-day moving average price is $262.82 and its two-hundred day moving average price is $242.61. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $42.19 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 1.90 and a beta of 0.77.

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 analysts’ consensus estimates of $2.47 by $0.08. The company had revenue of $1.35 billion for 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%. ResMed’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 earnings per share. On average, equities analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, August 13th. This is a positive change from ResMed’s previous quarterly dividend of $0.53. ResMed’s dividend payout ratio (DPR) is presently 22.29%.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the sale, the director owned 5,806 shares in the company, valued at $1,413,586.82. This represents a 25.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 945 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total value of $241,438.05. Following the sale, the director owned 68,273 shares in the company, valued at approximately $17,443,068.77. This represents a 1.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,063 shares of company stock worth $7,058,835. Corporate insiders own 0.71% of the company’s stock.

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.