Harel Insurance Investments & Financial Services Ltd. Increases Stake in ResMed Inc. $RMD

Harel Insurance Investments & Financial Services Ltd. lifted its stake in ResMed Inc. (NYSE:RMD) by 45.9% in the 1st quarter, HoldingsChannel reports. The firm owned 31,576 shares of the medical equipment provider’s stock after acquiring an additional 9,937 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in ResMed were worth $7,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Imprint Wealth LLC bought a new position in shares of ResMed in the third quarter worth about $26,000. WFA of San Diego LLC bought a new position in shares of ResMed during the 2nd quarter valued at approximately $26,000. International Assets Investment Management LLC purchased a new stake in ResMed in the 4th quarter worth approximately $25,000. ORG Partners LLC raised its stake in ResMed by 181.6% during the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 69 shares during the period. Finally, Sunbelt Securities Inc. bought a new stake in ResMed during the 3rd quarter worth approximately $31,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Price Performance

Shares of ResMed stock opened at $198.46 on Thursday. The firm has a market cap of $28.79 billion, a PE ratio of 19.14, a PEG ratio of 1.15 and a beta of 0.78. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81. The stock has a 50 day moving average of $199.64 and a 200 day moving average of $227.13. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company earned $2.37 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, research analysts expect that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is presently 23.14%.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total value of $1,090,783.05. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $101,893,036.65. The trade was a 1.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 14,973 shares of company stock valued at $3,096,067. Insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of ResMed from $227.00 to $225.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Mizuho decreased their price objective on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday. KeyCorp dropped their target price on shares of ResMed from $290.00 to $266.00 and set an “overweight” rating for the company in a report on Monday, June 22nd. Robert W. Baird set a $225.00 price target on ResMed in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. assumed coverage on ResMed in a report on Wednesday, April 15th. They set an “overweight” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $253.50.

About ResMed

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.