DekaBank Deutsche Girozentrale Has $7.59 Million Stock Position in ResMed Inc. (NYSE:RMD)

DekaBank Deutsche Girozentrale lifted its position in shares of ResMed Inc. (NYSE:RMD) by 16.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,923 shares of the medical equipment provider’s stock after purchasing an additional 4,507 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in ResMed were worth $7,590,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp lifted its position in ResMed by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after purchasing an additional 1,959,642 shares during the period. Marshall Wace LLP bought a new position in shares of ResMed during the 2nd quarter worth about $77,285,000. Greenvale Capital LLP boosted its position in shares of ResMed by 61.1% during the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after acquiring an additional 275,000 shares in the last quarter. Los Angeles Capital Management LLC raised its position in ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after purchasing an additional 241,195 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in ResMed during the second quarter worth about $42,036,000. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the topic of several analyst reports. KeyCorp upped their price objective on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Robert W. Baird lifted their price objective on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Bank of America upped their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.70.

Insider Activity

In related news, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares in the company, valued at $4,068,108.87. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $212.16, for a total value of $212,160.00. Following the transaction, the chief financial officer now directly owns 89,056 shares in the company, valued at $18,894,120.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now owns 18,741 shares of the company’s stock, valued at $4,068,108.87. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 123,874 shares of company stock valued at $28,151,142 over the last 90 days. 0.71% of the stock is owned by company insiders.

ResMed Stock Down 0.6 %

Shares of NYSE:RMD opened at $242.89 on Thursday. ResMed Inc. has a 12 month low of $138.55 and a 12 month high of $260.49. The firm has a market cap of $35.65 billion, a P/E ratio of 32.17, a P/E/G ratio of 2.05 and a beta of 0.69. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $241.90 and its two-hundred day moving average price is $219.15.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business posted $1.64 earnings per share. ResMed’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts forecast that ResMed Inc. will post 9.16 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. ResMed’s payout ratio is currently 28.08%.

About ResMed

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.