Raiffeisen Bank International AG Increases Stock Position in ResMed Inc. (NYSE:RMD)

Raiffeisen Bank International AG raised its position in ResMed Inc. (NYSE:RMD) by 26.6% in the first quarter, Holdings Channel reports. The institutional investor owned 11,520 shares of the medical equipment provider’s stock after purchasing an additional 2,423 shares during the period. Raiffeisen Bank International AG’s holdings in ResMed were worth $2,534,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. Ballentine Partners LLC boosted its stake in shares of ResMed by 6.3% during the 1st quarter. Ballentine Partners LLC now owns 1,782 shares of the medical equipment provider’s stock worth $399,000 after acquiring an additional 105 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in ResMed by 384.8% in the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 127 shares during the period. Exchange Traded Concepts LLC raised its holdings in ResMed by 393.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,529 shares of the medical equipment provider’s stock worth $566,000 after purchasing an additional 2,016 shares during the period. MML Investors Services LLC boosted its position in ResMed by 31.9% during the fourth quarter. MML Investors Services LLC now owns 11,468 shares of the medical equipment provider’s stock worth $2,623,000 after purchasing an additional 2,771 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in ResMed by 18.3% in the first quarter. Private Advisor Group LLC now owns 3,244 shares of the medical equipment provider’s stock valued at $726,000 after purchasing an additional 501 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on RMD. UBS Group upped their target price on ResMed from $285.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday. Wall Street Zen raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. Stifel Nicolaus increased their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a report on Friday. Finally, Mizuho boosted their target price on shares of ResMed from $270.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average target price of $274.83.

ResMed Stock Up 2.5%

RMD stock opened at $278.78 on Monday. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average of $256.59 and a two-hundred day moving average of $240.39. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $281.90. The company has a market cap of $40.88 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 1.72 and a beta of 0.77.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. ResMed had a return on equity of 25.62% and a net margin of 27.22%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the business earned $2.08 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th will be paid a $0.60 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. ResMed’s dividend payout ratio is 22.29%.

Insiders Place Their Bets

In related news, Director Witte Jan De sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total transaction of $486,940.00. Following the completion of the sale, the director directly owned 5,806 shares in the company, valued at approximately $1,413,586.82. This trade represents a 25.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $256.72, for a total transaction of $2,056,070.48. Following the transaction, the chief executive officer directly owned 455,503 shares in the company, valued at $116,936,730.16. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,013 shares of company stock valued at $7,238,913 in the last three months. 0.71% of the stock is currently owned by insiders.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.