Harel Insurance Investments & Financial Services Ltd. Raises Holdings in ResMed Inc. $RMD

Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,477 shares of the medical equipment provider’s stock after purchasing an additional 1,925 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in ResMed were worth $8,637,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. ICW Investment Advisors LLC increased its holdings in ResMed by 0.4% during the 1st quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider’s stock worth $2,551,000 after purchasing an additional 41 shares during the period. Johnson Investment Counsel Inc. boosted its position in shares of ResMed by 2.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after acquiring an additional 45 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of ResMed by 3.9% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock worth $269,000 after acquiring an additional 46 shares in the last quarter. E Fund Management Co. Ltd. boosted its position in shares of ResMed by 2.8% during the 1st quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider’s stock worth $385,000 after acquiring an additional 47 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its position in shares of ResMed by 3.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,747 shares of the medical equipment provider’s stock worth $451,000 after acquiring an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In other ResMed news, Director John Hernandez sold 2,575 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the sale, the director directly owned 4,045 shares of the company’s stock, valued at approximately $1,161,319.50. This trade represents a 38.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $282.85, for a total value of $2,265,345.65. Following the sale, the chief executive officer directly owned 467,792 shares of the company’s stock, valued at $132,314,967.20. The trade was a 1.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 18,693 shares of company stock valued at $5,270,419. 0.65% of the stock is owned by company insiders.

ResMed Stock Down 2.2%

Shares of NYSE RMD opened at $246.67 on Friday. The stock has a market cap of $36.00 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.75 and a beta of 0.83. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The business has a 50-day moving average price of $271.78 and a 200 day moving average price of $261.08.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 EPS. Equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is presently 25.24%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. KeyCorp upped their price objective on ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research report on Friday. William Blair raised ResMed to a “strong-buy” rating in a research report on Friday, August 1st. UBS Group raised ResMed to a “strong-buy” rating in a research report on Tuesday, September 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ResMed in a research report on Wednesday, October 8th. Finally, Piper Sandler upped their price objective on ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average target price of $297.20.

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.