Moody National Bank Trust Division Invests $294,000 in ResMed Inc. (NYSE:RMD)

Moody National Bank Trust Division acquired a new position in shares of ResMed Inc. (NYSE:RMDGet Rating) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,403 shares of the medical equipment provider’s stock, valued at approximately $294,000.

Other institutional investors also recently modified their holdings of the company. Baird Financial Group Inc. increased its stake in shares of ResMed by 2.1% during the 1st quarter. Baird Financial Group Inc. now owns 374,936 shares of the medical equipment provider’s stock worth $90,925,000 after purchasing an additional 7,642 shares during the last quarter. National Pension Service lifted its position in ResMed by 12.2% during the first quarter. National Pension Service now owns 218,740 shares of the medical equipment provider’s stock worth $53,047,000 after acquiring an additional 23,712 shares during the last quarter. Copeland Capital Management LLC boosted its holdings in shares of ResMed by 4.8% during the first quarter. Copeland Capital Management LLC now owns 5,473 shares of the medical equipment provider’s stock worth $1,327,000 after acquiring an additional 253 shares during the period. Greenleaf Trust grew its position in shares of ResMed by 10.7% in the first quarter. Greenleaf Trust now owns 2,250 shares of the medical equipment provider’s stock valued at $546,000 after purchasing an additional 218 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in ResMed by 15.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 27,817 shares of the medical equipment provider’s stock worth $6,746,000 after purchasing an additional 3,666 shares during the last quarter. 65.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 5,675 shares of ResMed 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 in the company, valued at approximately $91,159,184.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Michael J. Farrell sold 5,675 shares of ResMed 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 in the company, valued at approximately $91,159,184.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brett Sandercock sold 7,500 shares of ResMed stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $235.00, for a total value of $1,762,500.00. Following the completion of the transaction, the chief financial officer now owns 106,426 shares in the company, valued at approximately $25,010,110. The disclosure for this sale can be found here. Insiders sold 35,629 shares of company stock valued at $8,241,549 in the last three months. Corporate insiders own 1.42% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $224.26 on Tuesday. The stock has a market capitalization of $32.84 billion, a PE ratio of 42.23, a P/E/G ratio of 3.20 and a beta of 0.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.80 and a quick ratio of 1.72. The business has a fifty day moving average price of $230.45 and a two-hundred day moving average price of $224.35. ResMed Inc. has a fifty-two week low of $189.40 and a fifty-two week high of $291.75.

ResMed (NYSE:RMDGet Rating) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $912.53 million. ResMed had a return on equity of 26.56% and a net margin of 21.78%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.35 EPS. As a group, equities analysts predict that ResMed Inc. will post 6.57 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, August 18th will be issued a $0.44 dividend. The ex-dividend date is Wednesday, August 17th. This is a boost from ResMed’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 0.78%. ResMed’s payout ratio is currently 33.15%.

Analyst Ratings Changes

RMD has been the subject of several research reports. 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. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Finally, Royal Bank of Canada cut ResMed from an “outperform” rating to a “sector perform” rating and lifted 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. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.40.

About ResMed

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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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