10,000 Shares in ResMed Inc. $RMD Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of ResMed Inc. (NYSE:RMD) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,000 shares of the medical equipment provider’s stock, valued at approximately $1,949,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of ResMed during the 2nd quarter worth about $2,400,375,000. State Street Corp increased its stake in ResMed by 1.2% during the 4th quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider’s stock worth $1,595,862,000 after buying an additional 76,244 shares in the last quarter. Bank of New York Mellon Corp increased its stake in ResMed by 0.7% during the 1st 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. Geode Capital Management LLC raised its holdings in shares of 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 valued at $1,032,877,000 after acquiring an additional 51,218 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of ResMed by 25.0% during the fourth quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock valued at $696,523,000 after acquiring an additional 578,559 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the completion of the sale, the chief executive officer directly owned 466,256 shares in the company, valued at $95,904,196.64. This represents a 1.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the completion of the sale, the director directly owned 52,773 shares of the company’s stock, valued at $11,873,925. This trade represents a 13.16% 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 have sold 22,973 shares of company stock worth $4,885,436 in the last three months. 0.65% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citigroup restated a “neutral” rating and issued a $235.00 target price (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. The Goldman Sachs Group reiterated a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. Jefferies Financial Group reduced their price objective on ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Weiss Ratings upgraded ResMed from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company lowered their target price on shares of ResMed from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, ResMed currently has an average rating of “Hold” and an average target price of $239.38.

ResMed Trading Down 0.8%

RMD opened at $228.81 on Friday. The firm has a market capitalization of $33.01 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 1.45 and a beta of 0.76. The company’s 50 day simple moving average is $206.48 and its two-hundred day simple moving average is $219.98. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business earned $2.55 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. Analysts expect that ResMed Inc. will post 12.03 EPS for the current fiscal year.

ResMed Increases Dividend

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

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.