ResMed Inc. (NYSE:RMD) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 43.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,213 shares of the medical equipment provider’s stock after acquiring an additional 11,629 shares during the period. Van ECK Associates Corp’s holdings in ResMed were worth $7,314,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp grew its position in shares of ResMed by 230.3% in the first quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider’s stock valued at $755,112,000 after purchasing an additional 2,658,709 shares in the last quarter. Norges Bank acquired a new stake in shares of ResMed in the 4th quarter worth $233,966,000. Los Angeles Capital Management LLC raised its holdings in shares of ResMed by 3,599.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock worth $98,823,000 after acquiring an additional 485,540 shares during the period. Greenvale Capital LLP boosted its position in shares of ResMed by 198.3% during the 4th quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock valued at $94,938,000 after acquiring an additional 366,901 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of ResMed by 1,844.6% in the first quarter. Nordea Investment Management AB now owns 189,652 shares of the medical equipment provider’s stock valued at $37,506,000 after purchasing an additional 179,899 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In related news, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the transaction, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the transaction, the insider now owns 18,741 shares in the company, valued at approximately $4,068,108.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $211.66, for a total transaction of $3,107,803.78. Following the sale, the chief executive officer now owns 440,799 shares in the company, valued at $93,299,516.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,931 shares of company stock valued at $20,326,437. 1.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RMD has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $236.00 target price on shares of ResMed in a report on Friday, August 2nd. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a report on Friday. KeyCorp raised their target price on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada lifted their target price on ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Finally, Oppenheimer cut ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $204.70.

ResMed Stock Performance

Shares of ResMed stock opened at $245.02 on Tuesday. The stock has a market capitalization of $36.00 billion, a price-to-earnings ratio of 37.64, a price-to-earnings-growth ratio of 2.44 and a beta of 0.66. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. The business has a 50-day moving average of $211.34 and a 200 day moving average of $202.96. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $246.80.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm posted $1.60 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts forecast that ResMed Inc. will post 8.91 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be paid a $0.53 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. ResMed’s payout ratio is 32.57%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.