Board of the Pension Protection Fund Has $619,000 Position in ResMed Inc. $RMD

Board of the Pension Protection Fund reduced its holdings in shares of ResMed Inc. (NYSE:RMD) by 47.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,400 shares of the medical equipment provider’s stock after selling 2,200 shares during the period. Board of the Pension Protection Fund’s holdings in ResMed were worth $619,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. ICW Investment Advisors LLC boosted its holdings in ResMed by 0.4% during the first quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider’s stock valued at $2,551,000 after purchasing an additional 41 shares in the last quarter. Johnson Investment Counsel Inc. boosted its stake in ResMed by 2.8% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock valued at $430,000 after buying an additional 45 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in ResMed by 3.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock valued at $269,000 after buying an additional 46 shares in the last quarter. E Fund Management Co. Ltd. boosted its stake in ResMed by 2.8% in the 1st quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider’s stock valued at $385,000 after buying an additional 47 shares in the last quarter. Finally, CVA Family Office LLC boosted its stake in ResMed by 29.8% in the 1st quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider’s stock valued at $47,000 after buying an additional 48 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RMD. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Royal Bank Of Canada boosted their price target on shares of ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Citigroup started coverage on shares of ResMed in a research report on Thursday, September 18th. They issued a “buy” rating and a $330.00 price target on the stock. Mizuho boosted their target price on ResMed from $270.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Finally, Stifel Nicolaus boosted their target price on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $294.20.

ResMed Stock Down 2.1%

NYSE:RMD opened at $271.96 on Friday. The stock’s fifty day moving average price is $278.51 and its two-hundred day moving average price is $255.69. 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 company has a market cap of $39.69 billion, a price-to-earnings ratio of 28.60, a P/E/G ratio of 1.83 and a beta of 0.83.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $1.33 billion. During the same quarter in the prior year, the business earned $2.08 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, August 14th. This is a boost from ResMed’s previous quarterly dividend of $0.53. ResMed’s dividend payout ratio is currently 25.24%.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total value of $2,265,345.65. Following the transaction, the chief executive officer directly owned 467,792 shares in the company, valued at $132,314,967.20. This represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Hernandez sold 2,575 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the transaction, the director owned 4,045 shares in the company, valued at $1,161,319.50. This represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,743 shares of company stock worth $5,284,514. Company insiders own 0.71% of the company’s stock.

ResMed Company 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.