ResMed Inc. $RMD Shares Purchased by Tidal Investments LLC

Tidal Investments LLC raised its holdings in ResMed Inc. (NYSE:RMDFree Report) by 21.1% in the second quarter, Holdings Channel reports. The fund owned 32,332 shares of the medical equipment provider’s stock after buying an additional 5,627 shares during the period. Tidal Investments LLC’s holdings in ResMed were worth $6,301,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. California State Teachers Retirement System boosted its holdings in shares of ResMed by 19,648.1% during the 2nd quarter. California State Teachers Retirement System now owns 43,963,369 shares of the medical equipment provider’s stock worth $8,567,581,000 after purchasing an additional 43,740,748 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of ResMed in the second quarter valued at approximately $2,400,375,000. State Street Corp increased its holdings in shares of ResMed by 1.2% in the fourth quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider’s stock valued at $1,595,862,000 after purchasing an additional 76,244 shares during the last quarter. Bank of New York Mellon Corp lifted its position in ResMed by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 4,925,386 shares of the medical equipment provider’s stock worth $1,105,651,000 after buying an additional 34,732 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in ResMed by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,302,906 shares of the medical equipment provider’s stock worth $1,032,877,000 after buying an additional 51,218 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In other ResMed news, Director Peter Farrell sold 8,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total value of $1,800,000.00. Following the transaction, the director owned 52,773 shares of the company’s stock, valued at $11,873,925. This represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Farrell sold 4,991 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at approximately $95,904,196.64. This trade represents 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. Insiders sold 23,943 shares of company stock worth $5,255,268 in the last ninety days. 0.65% of the stock is currently owned by corporate insiders.

ResMed Price Performance

RMD stock opened at $218.28 on Monday. The business has a fifty day moving average of $217.39 and a two-hundred day moving average of $216.69. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06. The stock has a market cap of $31.49 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.38 and a beta of 0.77. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $284.87.

ResMed (NYSE:RMDGet Free Report) last announced its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.89 by $0.06. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the company posted $2.55 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, research analysts anticipate that ResMed Inc. will post 12.02 earnings per share for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be issued a $0.66 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 20th. This represents a $2.64 annualized dividend and a yield of 1.2%. ResMed’s payout ratio is presently 25.31%.

Analyst Ratings Changes

A number of brokerages have issued reports on RMD. Jefferies Financial Group cut their target price on ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Piper Sandler lowered their price target on shares of ResMed from $233.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Mizuho dropped their price objective on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. The Goldman Sachs Group restated a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. Finally, Royal Bank Of Canada lifted their target price on shares of ResMed from $234.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $240.31.

View Our Latest Research Report on ResMed

ResMed Company Profile

(Free Report)

ResMed Inc is a medical equipment and software company that develops products and services for the diagnosis and treatment of sleep-disordered breathing and other respiratory conditions. Its offerings include continuous positive airway pressure (CPAP) and other positive airway pressure devices, masks, ventilation systems, oxygen-related solutions, and connected health technologies.

The company also provides cloud-based software and digital health platforms that help clinicians, home medical equipment providers, and patients monitor therapy, manage equipment, and support adherence to treatment.

Further Reading

Want to see what other hedge funds are holding RMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ResMed Inc. (NYSE:RMDFree Report).

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.