State of Wyoming bought a new stake in ResMed Inc. (NYSE:RMD – Free Report) in the second quarter, HoldingsChannel reports. The fund bought 2,288 shares of the medical equipment provider’s stock, valued at approximately $446,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of RMD. First Trust Advisors LP boosted its holdings in shares of ResMed by 240.9% in the 4th quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider’s stock valued at $365,542,000 after purchasing an additional 1,072,394 shares during the last quarter. Norges Bank acquired a new stake in shares of ResMed during the 4th quarter worth $249,068,000. Deutsche Bank AG increased its holdings in shares of ResMed by 126.0% during the 4th quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider’s stock worth $340,464,000 after buying an additional 787,949 shares during the last quarter. Amundi raised its position in shares of ResMed by 123.9% in the 1st quarter. Amundi now owns 1,062,184 shares of the medical equipment provider’s stock worth $238,439,000 after buying an additional 587,872 shares during the period. Finally, Morgan Stanley raised its position in shares of ResMed by 25.0% in the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock worth $696,523,000 after buying an additional 578,559 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.
Insider Buying and Selling
In other news, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the director directly owned 52,773 shares in the company, valued at approximately $11,873,925. This represents a 13.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at $95,904,196.64. The trade was a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 22,973 shares of company stock worth $4,885,436. 0.65% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
View Our Latest Analysis on ResMed
ResMed Price Performance
RMD opened at $220.37 on Tuesday. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $293.81. The firm has a market cap of $31.97 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 1.41 and a beta of 0.76. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $204.54 and a 200 day simple moving average of $220.64.
ResMed (NYSE:RMD – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the company posted $2.55 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts expect that ResMed Inc. will post 12.03 EPS for the current fiscal year.
ResMed Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.66 per share. The ex-dividend date is Thursday, August 20th. This represents a $2.64 annualized dividend and a yield of 1.2%. This is a boost from ResMed’s previous quarterly dividend of $0.60. ResMed’s dividend payout ratio (DPR) is presently 23.01%.
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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