Universal Beteiligungs und Servicegesellschaft mbH Has $23.87 Million Stake in ResMed Inc. $RMD

Universal Beteiligungs und Servicegesellschaft mbH lowered its holdings in ResMed Inc. (NYSE:RMD) by 3.5% in the second quarter, HoldingsChannel.com reports. The firm owned 92,535 shares of the medical equipment provider’s stock after selling 3,339 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in ResMed were worth $23,874,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Zions Bancorporation National Association UT bought a new stake in shares of ResMed in the first quarter valued at approximately $45,000. Groupe la Francaise bought a new position in ResMed during the 1st quarter worth $45,000. Harbour Investments Inc. raised its holdings in ResMed by 264.2% in the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 177 shares in the last quarter. Quarry LP lifted its position in shares of ResMed by 141.1% during the 1st quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock valued at $70,000 after acquiring an additional 182 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of ResMed during the 2nd quarter worth $83,000. 54.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of recent analyst reports. UBS Group upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 16th. Robert W. Baird decreased their target price on shares of ResMed from $320.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Stifel Nicolaus boosted their target price on shares of ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 1st. KeyCorp increased their price target on shares of ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, Citigroup initiated coverage on shares of ResMed in a research note on Thursday, September 18th. They issued a “buy” rating and a $330.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus target price of $297.45.

ResMed Stock Up 0.7%

RMD stock opened at $246.38 on Wednesday. The firm has a 50-day moving average price of $264.92 and a 200-day moving average price of $263.27. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. 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 stock has a market capitalization of $35.96 billion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87.

ResMed (NYSE:RMD) last released its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 EPS. As a group, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. ResMed’s dividend payout ratio is 24.56%.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $252.05, for a total value of $504,100.00. Following the completion of the transaction, the director owned 66,110 shares of the company’s stock, valued at $16,663,025.50. This represents a 2.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 8,011 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $249.75, for a total value of $2,000,747.25. Following the completion of the transaction, the chief executive officer owned 467,866 shares of the company’s stock, valued at $116,849,533.50. This represents a 1.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,607 shares of company stock valued at $4,919,501 over the last quarter. 0.65% of the stock is currently owned by insiders.

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.