1,322,313 Shares in ResMed Inc. $RMD Purchased by Deutsche Bank AG

Deutsche Bank AG purchased a new stake in ResMed Inc. (NYSE:RMD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,322,313 shares of the medical equipment provider’s stock, valued at approximately $257,692,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Perigon Wealth Management LLC purchased a new position in shares of ResMed during the 2nd quarter worth about $4,597,000. Phillips Wealth Planners LLC purchased a new stake in ResMed in the second quarter valued at approximately $247,000. Trust Co. of Vermont acquired a new position in ResMed during the second quarter worth approximately $39,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in ResMed during the second quarter worth approximately $68,376,000. Finally, Plato Investment Management Ltd purchased a new position in ResMed during the second quarter worth approximately $668,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In related news, Director Peter C. Farrell sold 8,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total value of $1,800,000.00. Following the sale, the director directly owned 52,773 shares of the company’s stock, valued at $11,873,925. This represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the transaction, the chief executive officer owned 466,256 shares in the company, valued at $95,904,196.64. This trade represents a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,973 shares of company stock worth $4,885,436 over the last ninety days. 0.65% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research analyst reports. Piper Sandler dropped their price objective on ResMed from $233.00 to $225.00 and set a “neutral” rating for the company in a report on Friday, August 7th. UBS Group reiterated a “buy” rating and issued a $300.00 target price on shares of ResMed in a report on Tuesday, July 21st. Morgan Stanley reissued an “equal weight” rating and set a $230.00 price target (down from $286.00) on shares of ResMed in a research report on Wednesday, June 17th. Robert W. Baird set a $213.00 price target on ResMed in a research note on Friday, August 7th. Finally, Jefferies Financial Group cut their price objective on ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a report on Friday, July 10th. Seven investment analysts have rated the stock with a Buy rating and nine have issued 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 $240.17.

ResMed Stock Performance

Shares of RMD stock opened at $220.25 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. The company’s fifty day moving average price is $205.01 and its two-hundred day moving average price is $220.38. The firm has a market capitalization of $31.95 billion, a P/E ratio of 21.12, a P/E/G ratio of 1.41 and a beta of 0.76. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.ResMed’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.55 EPS. On average, research analysts anticipate that ResMed Inc. will post 12.03 earnings per share for the current fiscal year.

ResMed Increases Dividend

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

ResMed 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.