Plato Investment Management Ltd Acquires Shares of 3,446 ResMed Inc. $RMD

Plato Investment Management Ltd bought a new position in shares of ResMed Inc. (NYSE:RMD) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,446 shares of the medical equipment provider’s stock, valued at approximately $668,000.

A number of other large investors also recently modified their holdings of the company. Hsbc Holdings PLC raised its holdings in shares of ResMed by 17.6% in the 4th quarter. Hsbc Holdings PLC now owns 328,785 shares of the medical equipment provider’s stock worth $79,321,000 after acquiring an additional 49,253 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in 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 purchasing an additional 118,296 shares during the last quarter. Fideuram Asset Management Ireland dac acquired a new position in ResMed during the 4th quarter valued at about $4,712,000. Legal & General Group Plc increased its holdings in ResMed by 3.6% during the 4th quarter. Legal & General Group Plc now owns 992,527 shares of the medical equipment provider’s stock worth $239,070,000 after purchasing an additional 34,317 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in ResMed by 23.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,810 shares of the medical equipment provider’s stock worth $5,735,000 after purchasing an additional 4,541 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the firm’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 of the company’s stock, valued at $95,904,196.64. This trade represents a 1.06% 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, Director Peter C. Farrell sold 8,000 shares of the business’s stock in a transaction 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 completion of the sale, the director owned 52,773 shares in the company, valued at approximately $11,873,925. The trade was 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. In the last quarter, insiders sold 22,973 shares of company stock worth $4,885,436. 0.65% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of recent research reports. Morgan Stanley restated an “equal weight” rating and issued a $230.00 target price (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. Robert W. Baird set a $213.00 price target on ResMed in a report on Friday, August 7th. Royal Bank Of Canada increased their price target on ResMed from $234.00 to $244.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. Weiss Ratings upgraded ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Wells Fargo & Company cut their price objective on shares of ResMed from $225.00 to $215.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $240.17.

ResMed Stock Performance

Shares of RMD stock opened at $220.25 on Wednesday. The firm has a market cap of $31.95 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 1.41 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. The firm’s 50-day simple moving average is $205.01 and its two-hundred day simple moving average is $220.38.

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

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be paid a $0.66 dividend. The ex-dividend date is Thursday, August 20th. This is a positive change from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a yield of 1.2%. ResMed’s dividend payout ratio (DPR) is currently 25.31%.

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.