ResMed Inc. $RMD Stock Position Raised by Railway Pension Investments Ltd

Railway Pension Investments Ltd lifted its position in ResMed Inc. (NYSE:RMD) by 406.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,605 shares of the medical equipment provider’s stock after acquiring an additional 39,000 shares during the period. Railway Pension Investments Ltd’s holdings in ResMed were worth $9,472,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in ResMed during the second quarter valued at $2,400,375,000. Bank of New York Mellon Corp acquired a new stake in shares of ResMed in the second quarter worth $818,030,000. Deutsche Bank AG bought a new stake in ResMed during the second quarter valued at about $257,692,000. First Trust Advisors LP boosted its stake in ResMed by 240.9% during the 4th quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider’s stock valued at $365,542,000 after purchasing an additional 1,072,394 shares during the period. Finally, Norges Bank acquired a new stake in shares of ResMed in the fourth quarter worth $249,068,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on RMD shares. Citigroup reaffirmed a “neutral” rating and issued a $235.00 price target (down from $270.00) on shares of ResMed in a report on Sunday, July 12th. Wells Fargo & Company cut their price target on ResMed from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Friday, August 7th. Royal Bank Of Canada boosted their target price on shares of ResMed from $234.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Robert W. Baird set a $213.00 target price on shares of ResMed in a research report on Friday, August 7th. Finally, Rothschild & Co Redburn assumed coverage on shares of ResMed in a report on Wednesday, August 19th. They issued a “neutral” rating and a $230.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $240.31.

ResMed Trading Down 0.1%

NYSE RMD opened at $240.03 on Tuesday. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $284.87. 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 $34.62 billion, a PE ratio of 23.01, a PEG ratio of 1.51 and a beta of 0.76. The stock has a 50 day moving average of $212.84 and a 200-day moving average of $218.62.

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

ResMed Increases Dividend

The business also recently declared 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. This represents a $2.64 dividend on an annualized basis and a yield of 1.1%. This is a boost from ResMed’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, August 20th. ResMed’s payout ratio is presently 25.31%.

Insider Buying and Selling at ResMed

In related 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 transaction 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 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 firm’s stock in a transaction dated 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 directly owned 52,773 shares in the company, 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 valued at $4,885,436 over the last 90 days. Corporate insiders own 0.65% of the company’s stock.

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.