Royal London Asset Management Ltd. Has $13.61 Million Holdings in ResMed Inc. (NYSE:RMD)

Royal London Asset Management Ltd. raised its position in ResMed Inc. (NYSE:RMD) by 1.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,094 shares of the medical equipment provider’s stock after buying an additional 1,070 shares during the period. Royal London Asset Management Ltd.’s holdings in ResMed were worth $13,609,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Choreo LLC acquired a new position in ResMed in the second quarter valued at about $700,000. Wedbush Securities Inc. lifted its position in shares of ResMed by 38.8% during the second quarter. Wedbush Securities Inc. now owns 3,654 shares of the medical equipment provider’s stock worth $699,000 after purchasing an additional 1,022 shares in the last quarter. Prudential PLC lifted its position in shares of ResMed by 1,063.4% during the second quarter. Prudential PLC now owns 19,812 shares of the medical equipment provider’s stock worth $3,792,000 after purchasing an additional 18,109 shares in the last quarter. Quest Partners LLC lifted its position in shares of ResMed by 44.1% during the second quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 100 shares in the last quarter. Finally, Morton Community Bank lifted its position in shares of ResMed by 8.6% during the second quarter. Morton Community Bank now owns 16,859 shares of the medical equipment provider’s stock worth $3,227,000 after purchasing an additional 1,340 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Down 0.9 %

Shares of NYSE:RMD opened at $250.71 on Friday. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $255.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The company has a market capitalization of $36.83 billion, a PE ratio of 38.51, a PEG ratio of 2.44 and a beta of 0.69. The company has a 50 day moving average price of $220.87 and a two-hundred day moving average price of $206.37.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts forecast that ResMed Inc. will post 8.91 earnings per share for the current year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is presently 32.57%.

Insider Buying and Selling at ResMed

In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $194.35, for a total value of $194,350.00. Following the completion of the sale, the chief financial officer now owns 90,056 shares of the company’s stock, valued at $17,502,383.60. The sale was disclosed in a legal 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 stock in a transaction on Monday, July 8th. The shares were sold at an average price of $194.35, for a total transaction of $194,350.00. Following the completion of the sale, the chief financial officer now owns 90,056 shares of the company’s stock, valued at $17,502,383.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the sale, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at approximately $85,060,983.03. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,931 shares of company stock valued at $21,382,007. Corporate insiders own 1.21% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the topic of a number of research reports. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. KeyCorp upped their target price on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Royal Bank of Canada increased their price objective on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC lowered shares of ResMed from a “buy” rating to a “hold” rating and set a $236.00 price objective on the stock. in a report on Wednesday, September 4th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, ResMed currently has a consensus rating of “Hold” and a consensus price target of $204.70.

About ResMed

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.