ResMed Inc. $RMD Shares Acquired by C WorldWide Group Holding A S

C WorldWide Group Holding A S lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 7.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,987 shares of the medical equipment provider’s stock after buying an additional 4,048 shares during the period. C WorldWide Group Holding A S’s holdings in ResMed were worth $11,690,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC bought a new position in shares of ResMed during the fourth quarter valued at approximately $25,000. Bell Investment Advisors Inc acquired a new stake in shares of ResMed during the 2nd quarter worth approximately $26,000. Imprint Wealth LLC bought a new stake in shares of ResMed in the 3rd quarter worth approximately $26,000. WFA of San Diego LLC bought a new stake in shares of ResMed in the 2nd quarter worth approximately $26,000. Finally, Sunbelt Securities Inc. acquired a new position in ResMed during the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. The Goldman Sachs Group restated a “buy” rating on shares of ResMed in a research note on Wednesday, July 1st. Piper Sandler cut their target price on ResMed from $233.00 to $225.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Robert W. Baird set a $213.00 price target on shares of ResMed in a report on Friday, August 7th. KeyCorp upped their price target on shares of ResMed from $255.00 to $267.00 and gave the stock an “overweight” rating in a research report on Monday, August 31st. Finally, Citigroup reaffirmed a “neutral” rating and issued a $235.00 price objective (down from $270.00) on shares of ResMed in a report on Sunday, July 12th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $240.31.

ResMed Stock Performance

Shares of NYSE RMD opened at $221.20 on Wednesday. ResMed Inc. has a 12-month low of $180.26 and a 12-month high of $284.87. The company has a market cap of $31.91 billion, a PE ratio of 21.21, a P/E/G ratio of 1.44 and a beta of 0.77. The stock has a 50 day simple moving average of $216.62 and a 200-day simple moving average of $217.52. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.89 by $0.06. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $2.55 EPS. On average, equities research analysts forecast that ResMed Inc. will post 12.02 EPS for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be paid a dividend of $0.66 per share. This is an increase from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, August 20th. ResMed’s dividend payout ratio (DPR) is presently 25.31%.

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the transaction, the chief executive officer owned 466,256 shares of the company’s stock, valued at approximately $95,904,196.64. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 970 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $234.73, for a total value of $227,688.10. Following the sale, the director owned 51,803 shares of the company’s stock, valued at $12,159,718.19. This trade represents a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,952 shares of company stock valued at $4,145,070 in the last ninety days. Corporate insiders own 0.65% of the company’s stock.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.