OMERS ADMINISTRATION Corp Acquires Shares of 22,106 ResMed Inc. $RMD

OMERS ADMINISTRATION Corp acquired a new stake in ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 22,106 shares of the medical equipment provider’s stock, valued at approximately $4,308,000.

A number of other hedge funds have also modified their holdings of the stock. Imprint Wealth LLC acquired a new position in ResMed during the third quarter worth $26,000. WFA of San Diego LLC acquired a new stake in shares of ResMed in the 2nd quarter valued at $26,000. International Assets Investment Management LLC acquired a new stake in shares of ResMed in the 4th quarter valued at $25,000. Sunbelt Securities Inc. bought a new stake in shares of ResMed in the 3rd quarter worth about $31,000. Finally, Bell Investment Advisors Inc bought a new stake in shares of ResMed in the 2nd quarter worth about $26,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Up 1.7%

Shares of RMD opened at $236.36 on Wednesday. The firm has a market capitalization of $34.09 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 1.46 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 3.10. The business’s fifty day moving average price is $208.86 and its two-hundred day moving average price is $219.51. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $286.91.

ResMed (NYSE:RMD) last released its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, topping 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 company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted $2.55 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts predict that ResMed Inc. will post 12.03 earnings per share for the current year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $2.64 annualized dividend and a 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 Activity

In other news, Director Peter C. Farrell sold 8,000 shares of ResMed stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the director owned 52,773 shares in the company, valued at $11,873,925. The trade was a 13.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the sale, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at approximately $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 have sold a total of 22,973 shares of company stock valued at $4,885,436 over the last three months. Company insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RMD shares. Robert W. Baird set a $213.00 price target on shares of ResMed in a report on Friday, August 7th. Royal Bank Of Canada upped their price objective on shares of ResMed from $234.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Wells Fargo & Company dropped their price objective on shares of ResMed from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Friday, August 7th. The Goldman Sachs Group reiterated a “buy” rating on shares of ResMed in a research note on Wednesday, July 1st. Finally, Jefferies Financial Group reduced their target price on ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a report on Friday, July 10th. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $239.38.

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.