2,268 Shares in ResMed Inc. $RMD Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. purchased a new stake in shares of ResMed Inc. (NYSE:RMD) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,268 shares of the medical equipment provider’s stock, valued at approximately $442,000.

Other large investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC raised its stake in shares of ResMed by 17.6% in the fourth quarter. Hsbc Holdings PLC now owns 328,785 shares of the medical equipment provider’s stock valued at $79,321,000 after buying an additional 49,253 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of ResMed by 13.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 979,087 shares of the medical equipment provider’s stock valued at $235,833,000 after buying an additional 118,296 shares during the last quarter. BlackRock Inc. bought a new position in shares of ResMed during the 2nd quarter worth $2,400,375,000. Fideuram Asset Management Ireland dac bought a new position in shares of ResMed during the 4th quarter worth $4,712,000. Finally, Legal & General Group Plc increased its holdings in ResMed by 3.6% in the 4th quarter. Legal & General Group Plc now owns 992,527 shares of the medical equipment provider’s stock worth $239,070,000 after acquiring an additional 34,317 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

NYSE:RMD opened at $228.81 on Friday. The business’s fifty day moving average is $206.48 and its 200 day moving average is $219.98. The firm has a market cap of $33.01 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.45 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 3.10. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.81.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.89 by $0.06. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.55 EPS. Research analysts predict that ResMed Inc. will post 12.03 EPS for the current year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from ResMed’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 20th. ResMed’s dividend payout ratio (DPR) is 23.01%.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 52,773 shares in the company, valued at $11,873,925. This represents a 13.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 on Friday, August 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the completion of the transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at approximately $95,904,196.64. The trade was a 1.06% decrease in their ownership of the stock. 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 22,973 shares of company stock valued at $4,885,436 over the last 90 days. 0.65% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Citigroup restated a “neutral” rating and issued a $235.00 price objective (down from $270.00) on shares of ResMed in a research note on Sunday, July 12th. Jefferies Financial Group cut their target price on shares of ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, July 10th. 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. The Goldman Sachs Group reissued a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. Finally, Rothschild & Co Redburn initiated coverage on shares of ResMed in a research note on Wednesday. They set a “neutral” rating and a $230.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $239.38.

ResMed Company 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.