AG2R LA Mondiale Gestion D Actifs Boosts Holdings in ResMed Inc. $RMD

AG2R LA Mondiale Gestion D Actifs lifted its holdings in ResMed Inc. (NYSE:RMD) by 7.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,770 shares of the medical equipment provider’s stock after buying an additional 448 shares during the period. AG2R LA Mondiale Gestion D Actifs’ holdings in ResMed were worth $1,747,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its stake in shares of ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 127 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of ResMed in the first quarter worth about $45,000. Groupe la Francaise purchased a new position in shares of ResMed in the first quarter worth about $45,000. Harbour Investments Inc. lifted its stake in shares of ResMed by 264.2% in the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 177 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of ResMed by 926.7% in the first quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock worth $69,000 after buying an additional 278 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Price Performance

ResMed stock opened at $259.87 on Friday. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The stock has a market cap of $37.93 billion, a P/E ratio of 27.33, a PEG ratio of 1.79 and a beta of 0.83. The company has a 50-day moving average price of $275.26 and a 200 day moving average price of $259.39. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the business earned $2.08 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th were given a dividend of $0.60 per share. This is a boost from ResMed’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, August 14th. ResMed’s dividend payout ratio (DPR) is 25.24%.

Analyst Ratings Changes

RMD has been the topic of several research reports. Stifel Nicolaus raised their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 1st. CLSA raised shares of ResMed from a “hold” rating to an “outperform” rating in a research note on Tuesday, September 2nd. Mizuho raised their price objective on shares of ResMed from $270.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Piper Sandler raised their price objective on shares of ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada raised their price objective on shares of ResMed from $294.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $295.70.

Insider Buying and Selling at ResMed

In other ResMed news, Director John Hernandez sold 2,575 shares of ResMed stock in a transaction dated Monday, August 18th. The shares were 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 in the company, valued at $1,161,319.50. This trade represents a 38.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total transaction of $2,265,345.65. Following the sale, the chief executive officer owned 467,792 shares of the company’s stock, valued at approximately $132,314,967.20. This represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,743 shares of company stock worth $5,284,514 over the last three months. Insiders own 0.65% of the company’s stock.

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.