Osmosis Investment Management UK Ltd Makes New Investment in ResMed Inc. $RMD

Osmosis Investment Management UK Ltd acquired a new position in ResMed Inc. (NYSE:RMD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 11,081 shares of the medical equipment provider’s stock, valued at approximately $2,159,000.

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

ResMed Price Performance

RMD stock opened at $232.57 on Tuesday. The company has a fifty day moving average price of $208.01 and a 200-day moving average price of $219.69. The company has a market capitalization of $33.55 billion, a P/E ratio of 22.30, a PEG ratio of 1.45 and a beta of 0.76. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 3.10.

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

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be paid a $0.66 dividend. The ex-dividend date is Thursday, August 20th. This represents a $2.64 annualized dividend and a dividend yield of 1.1%. This is an increase from ResMed’s previous quarterly dividend of $0.60. ResMed’s dividend payout ratio (DPR) is presently 25.31%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 8,000 shares of ResMed 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 completion of the sale, the director directly owned 52,773 shares of the company’s stock, valued at approximately $11,873,925. The trade was a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $205.69, for a total value of $1,026,598.79. Following the completion of the sale, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at $95,904,196.64. The trade was a 1.06% decrease in their ownership of the stock. 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 a total of 22,973 shares of company stock valued at $4,885,436 in the last quarter. 0.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on RMD shares. Royal Bank Of Canada upped their target price on ResMed from $234.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Jefferies Financial Group lowered their price target on ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a report on Friday, July 10th. The Goldman Sachs Group reissued a “buy” rating on shares of ResMed in a report on Wednesday, July 1st. UBS Group reaffirmed a “buy” rating and issued a $300.00 price objective on shares of ResMed in a research note on Tuesday, July 21st. Finally, Piper Sandler reduced their price objective on ResMed from $233.00 to $225.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, ResMed has an average rating of “Hold” and an average target price of $239.38.

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.