Aware Super Pty Ltd as trustee of Aware Super Invests $33.60 Million in ResMed Inc. $RMD

Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of ResMed Inc. (NYSE:RMD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 149,697 shares of the medical equipment provider’s stock, valued at approximately $33,604,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. D.A. Davidson & CO. boosted its stake in ResMed by 33.7% in the 1st quarter. D.A. Davidson & CO. now owns 5,169 shares of the medical equipment provider’s stock worth $1,160,000 after purchasing an additional 1,302 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of ResMed by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 4,925,386 shares of the medical equipment provider’s stock worth $1,105,651,000 after buying an additional 34,732 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of ResMed by 11.2% in the first quarter. Illinois Municipal Retirement Fund now owns 15,766 shares of the medical equipment provider’s stock worth $3,539,000 after buying an additional 1,585 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of ResMed by 45.9% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 31,576 shares of the medical equipment provider’s stock worth $7,087,000 after buying an additional 9,937 shares during the period. Finally, MASTERINVEST Kapitalanlage GmbH lifted its stake in shares of ResMed by 9.3% during the first quarter. MASTERINVEST Kapitalanlage GmbH now owns 15,122 shares of the medical equipment provider’s stock worth $3,395,000 after buying an additional 1,290 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $101,893,036.65. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,973 shares of company stock valued at $3,096,067 in the last quarter. 0.65% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RMD. The Goldman Sachs Group reissued a “buy” rating on shares of ResMed in a report on Wednesday, July 1st. Evercore set a $255.00 target price on ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. Robert W. Baird set a $225.00 price target on ResMed in a research report on Friday, May 1st. KeyCorp dropped their price target on ResMed from $290.00 to $266.00 and set an “overweight” rating on the stock in a research note on Monday, June 22nd. Finally, Weiss Ratings lowered ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.00.

ResMed Trading Up 2.1%

Shares of ResMed stock opened at $202.66 on Friday. The stock has a market cap of $29.40 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. The firm has a fifty day moving average price of $199.56 and a 200 day moving average price of $226.83. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.79 by $0.07. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.37 earnings per share. Equities research analysts predict that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 14th. ResMed’s payout ratio is 23.14%.

About ResMed

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.