Motley Fool Asset Management LLC raised its stake in shares of ResMed Inc. (NYSE:RMD) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 202,522 shares of the medical equipment provider’s stock after acquiring an additional 1,522 shares during the period. ResMed comprises approximately 2.8% of Motley Fool Asset Management LLC’s investment portfolio, making the stock its 5th largest holding. Motley Fool Asset Management LLC owned 0.14% of ResMed worth $20,977,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of the business. Koch Industries Inc. raised its stake in shares of ResMed by 9.2% during the 1st quarter. Koch Industries Inc. now owns 6,067 shares of the medical equipment provider’s stock worth $597,000 after purchasing an additional 512 shares during the period. Victory Capital Management Inc. raised its stake in shares of ResMed by 2.3% during the 1st quarter. Victory Capital Management Inc. now owns 26,503 shares of the medical equipment provider’s stock worth $2,610,000 after purchasing an additional 595 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in shares of ResMed by 24.5% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 3,031 shares of the medical equipment provider’s stock worth $298,000 after purchasing an additional 597 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of ResMed by 18.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,904 shares of the medical equipment provider’s stock worth $383,000 after purchasing an additional 598 shares during the period. Finally, Xact Kapitalforvaltning AB raised its stake in shares of ResMed by 2.6% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 23,429 shares of the medical equipment provider’s stock worth $2,427,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 63.79% of the company’s stock.
Shares of ResMed stock opened at $108.90 on Monday. ResMed Inc. has a 52-week low of $73.85 and a 52-week high of $109.97. The stock has a market capitalization of $15.54 billion, a P/E ratio of 30.85, a PEG ratio of 2.81 and a beta of 0.89. The company has a current ratio of 2.08, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 20th. Investors of record on Thursday, August 16th will be paid a $0.37 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Wednesday, August 15th. ResMed’s payout ratio is currently 41.93%.
A number of equities research analysts have recently commented on the company. Zacks Investment Research cut ResMed from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Goldman Sachs Group assumed coverage on ResMed in a research note on Sunday, July 1st. They set a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.33.
In related news, insider James Hollingshead sold 600 shares of the business’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $102.80, for a total value of $61,680.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brett Sandercock sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $107.45, for a total value of $214,900.00. The disclosure for this sale can be found here. Insiders sold a total of 41,823 shares of company stock worth $4,342,578 over the last 90 days. 1.77% of the stock is currently owned by company insiders.
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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