OFI Invest Asset Management Buys Shares of 179 ResMed Inc. (NYSE:RMD)

OFI Invest Asset Management acquired a new position in ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 179 shares of the medical equipment provider’s stock, valued at approximately $32,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Handelsbanken Fonder AB grew its position in ResMed by 22.5% in the 4th quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after purchasing an additional 12,899 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of ResMed by 24.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock valued at $35,068,000 after buying an additional 35,273 shares during the period. Dimensional Fund Advisors LP grew its position in ResMed by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 536,459 shares of the medical equipment provider’s stock worth $92,285,000 after buying an additional 40,605 shares in the last quarter. ICW Investment Advisors LLC grew its position in ResMed by 2.3% during the fourth quarter. ICW Investment Advisors LLC now owns 11,303 shares of the medical equipment provider’s stock worth $1,944,000 after buying an additional 249 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in ResMed by 647.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 13,491 shares of the medical equipment provider’s stock valued at $2,321,000 after acquiring an additional 11,685 shares during the period. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $236.00 price objective on shares of ResMed in a research report on Friday, August 2nd. Royal Bank of Canada raised their target price on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Finally, Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $204.70.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $211.66, for a total value of $3,107,803.78. Following the transaction, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $93,299,516.34. The transaction was disclosed in a filing 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 company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $209.81, for a total transaction of $209,810.00. Following the completion of the transaction, the chief financial officer now directly owns 91,056 shares of the company’s stock, valued at $19,104,459.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $211.66, for a total value of $3,107,803.78. Following the transaction, the chief executive officer now owns 440,799 shares of the company’s stock, valued at $93,299,516.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,049 shares of company stock worth $20,122,695. Insiders own 1.21% of the company’s stock.

ResMed Price Performance

NYSE:RMD opened at $227.75 on Monday. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The firm has a market cap of $33.46 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 2.26 and a beta of 0.66. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $228.02. The company’s 50-day moving average price is $205.73 and its two-hundred day moving average price is $199.26.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping the consensus estimate of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the business earned $1.60 EPS. ResMed’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that ResMed Inc. will post 8.72 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s payout ratio is currently 29.49%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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.