Capital World Investors Buys 875,001 Shares of ResMed Inc. (NYSE:RMD)

Capital World Investors lifted its stake in shares of ResMed Inc. (NYSE:RMDGet Rating) by 24.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,470,998 shares of the medical equipment provider’s stock after acquiring an additional 875,001 shares during the quarter. Capital World Investors’ holdings in ResMed were worth $1,084,262,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in ResMed by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 15,867,457 shares of the medical equipment provider’s stock worth $3,848,017,000 after purchasing an additional 254,208 shares in the last quarter. BlackRock Inc. lifted its holdings in ResMed by 2.4% in the 1st quarter. BlackRock Inc. now owns 13,359,715 shares of the medical equipment provider’s stock worth $3,239,867,000 after purchasing an additional 310,980 shares in the last quarter. State Street Corp lifted its holdings in ResMed by 4.1% in the 4th quarter. State Street Corp now owns 6,523,922 shares of the medical equipment provider’s stock worth $1,699,351,000 after purchasing an additional 255,361 shares in the last quarter. Invesco Ltd. lifted its holdings in ResMed by 4.2% in the 1st quarter. Invesco Ltd. now owns 1,751,320 shares of the medical equipment provider’s stock worth $424,713,000 after purchasing an additional 70,019 shares in the last quarter. Finally, Ownership Capital B.V. lifted its holdings in ResMed by 14.2% in the 1st quarter. Ownership Capital B.V. now owns 1,544,254 shares of the medical equipment provider’s stock worth $374,497,000 after purchasing an additional 192,434 shares in the last quarter. 65.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 5,675 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $224.94, for a total value of $1,276,534.50. Following the transaction, the chief executive officer now owns 405,260 shares of the company’s stock, valued at approximately $91,159,184.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ResMed news, CEO Michael J. Farrell sold 5,675 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $224.94, for a total value of $1,276,534.50. Following the transaction, the chief executive officer now owns 405,260 shares of the company’s stock, valued at approximately $91,159,184.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Pendarvis sold 1,545 shares of the company’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $212.33, for a total value of $328,049.85. Following the completion of the transaction, the insider now directly owns 106,831 shares in the company, valued at approximately $22,683,426.23. The disclosure for this sale can be found here. Insiders have sold 18,765 shares of company stock valued at $4,340,647 in the last quarter. 1.42% of the stock is owned by insiders.

ResMed Stock Performance

NYSE RMD opened at $233.20 on Thursday. The company has a market cap of $34.15 billion, a P/E ratio of 43.92, a P/E/G ratio of 3.37 and a beta of 0.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.72 and a current ratio of 2.80. The business’s 50 day moving average price is $229.91 and its 200-day moving average price is $224.99. ResMed Inc. has a fifty-two week low of $189.40 and a fifty-two week high of $292.56.

ResMed (NYSE:RMDGet Rating) last released its earnings results on Thursday, August 11th. The medical equipment provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.01. The firm had revenue of $914.74 million for the quarter, compared to the consensus estimate of $912.53 million. ResMed had a return on equity of 26.56% and a net margin of 21.78%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.35 EPS. Sell-side analysts predict that ResMed Inc. will post 6.57 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, August 18th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.75%. The ex-dividend date is Wednesday, August 17th. This is an increase from ResMed’s previous quarterly dividend of $0.42. ResMed’s dividend payout ratio is 33.15%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RMD shares. Royal Bank of Canada cut ResMed from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $246.00 to $252.00 in a report on Friday, August 12th. They noted that the move was a valuation call. JPMorgan Chase & Co. cut ResMed from an “overweight” rating to a “neutral” rating in a report on Friday, August 12th. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a report on Thursday, September 8th. Finally, StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $266.40.

ResMed Company Profile

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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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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