Vise Technologies Inc. Buys New Holdings in ResMed Inc. $RMD

Vise Technologies Inc. purchased a new position in shares of ResMed Inc. (NYSE:RMD) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,929 shares of the medical equipment provider’s stock, valued at approximately $571,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in ResMed in the 2nd quarter valued at $2,400,375,000. State Street Corp boosted its position in ResMed by 1.2% during the fourth quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider’s stock worth $1,595,862,000 after purchasing an additional 76,244 shares during the period. Bank of New York Mellon Corp boosted its position in ResMed by 0.7% during the first 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 purchasing an additional 34,732 shares during the period. Geode Capital Management LLC increased its holdings in shares of ResMed by 1.2% in 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 purchasing an additional 51,218 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of ResMed by 25.0% in the fourth quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock valued at $696,523,000 after purchasing an additional 578,559 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RMD shares. Rothschild & Co Redburn assumed coverage on shares of ResMed in a research note on Wednesday, August 19th. They set a “neutral” rating and a $230.00 target price for the company. Mizuho decreased their price target on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 15th. Piper Sandler lowered their price target on shares of ResMed from $233.00 to $225.00 and set a “neutral” rating on the stock in a report on Friday, August 7th. The Goldman Sachs Group restated a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. Finally, 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 report on Friday, July 10th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $239.38.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the director directly owned 52,773 shares in the company, valued at $11,873,925. This represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred 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 owned 466,256 shares of the company’s stock, valued at approximately $95,904,196.64. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,973 shares of company stock valued at $4,885,436 over the last 90 days. 0.65% of the stock is owned by corporate insiders.

ResMed Stock Performance

Shares of ResMed stock opened at $232.57 on Tuesday. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06. The company has a market cap of $33.55 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 1.45 and a beta of 0.76. The company has a 50 day moving average of $208.01 and a 200-day moving average of $219.69. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.58.

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

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be paid a $0.66 dividend. The ex-dividend date of this dividend 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 dividend yield of 1.1%. ResMed’s payout ratio is currently 25.31%.

ResMed 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.