Mediolanum International Funds Ltd Buys 4,735 Shares of ResMed Inc. $RMD

Mediolanum International Funds Ltd increased its stake in ResMed Inc. (NYSE:RMD) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 125,130 shares of the medical equipment provider’s stock after purchasing an additional 4,735 shares during the quarter. Mediolanum International Funds Ltd’s holdings in ResMed were worth $27,532,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RMD. State Street Corp lifted its holdings in ResMed by 1.2% during the 4th quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider’s stock worth $1,595,862,000 after purchasing an additional 76,244 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in ResMed by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,925,386 shares of the medical equipment provider’s stock valued at $1,105,651,000 after buying an additional 34,732 shares in the last quarter. Geode Capital Management LLC grew its holdings in ResMed by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 4,302,906 shares of the medical equipment provider’s stock valued at $1,032,877,000 after buying an additional 51,218 shares in the last quarter. Morgan Stanley increased its position in shares of ResMed by 25.0% during the fourth quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock valued at $696,523,000 after buying an additional 578,559 shares during the period. Finally, Northern Trust Corp increased its position in shares of ResMed by 5.2% during the fourth quarter. Northern Trust Corp now owns 1,785,384 shares of the medical equipment provider’s stock valued at $430,045,000 after buying an additional 87,502 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total value of $1,090,783.05. Following the completion of the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at $101,893,036.65. The trade was a 1.06% decrease in their position. The transaction was disclosed in a 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 have sold 14,973 shares of company stock worth $3,096,067 in the last three months. Insiders own 0.65% of the company’s stock.

ResMed Stock Performance

NYSE:RMD opened at $198.86 on Friday. The stock has a market cap of $28.85 billion, a P/E ratio of 19.18, a PEG ratio of 1.19 and a beta of 0.78. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $199.40 and its two-hundred day moving average price is $226.64. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $293.81.

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

ResMed Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RMD. Robert W. Baird set a $225.00 price target on shares of ResMed in a report on Friday, May 1st. KeyCorp decreased their target price on shares of ResMed from $290.00 to $266.00 and set an “overweight” rating on the stock in a report on Monday, June 22nd. Royal Bank Of Canada lowered shares of ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 target price on the stock. in a report on Thursday. Jefferies Financial Group lowered their target price on shares of ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, July 10th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $230.00 price target (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $250.00.

ResMed Company 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.