Dundas Partners LLP Boosts Stock Position in ResMed Inc. (NYSE:RMD)

Dundas Partners LLP boosted its stake in ResMed Inc. (NYSE:RMD) by 21.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 132,687 shares of the medical equipment provider’s stock after acquiring an additional 23,819 shares during the quarter. ResMed accounts for about 2.0% of Dundas Partners LLP’s portfolio, making the stock its 27th biggest holding. Dundas Partners LLP owned 0.09% of ResMed worth $25,399,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of ResMed by 24.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock valued at $35,068,000 after purchasing an additional 35,273 shares during the period. Mediolanum International Funds Ltd purchased a new stake in ResMed during the 1st quarter worth approximately $2,246,000. Janney Montgomery Scott LLC raised its holdings in shares of ResMed by 5.3% during the first quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock valued at $16,102,000 after acquiring an additional 4,075 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of ResMed by 3,599.0% in the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after acquiring an additional 485,540 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of ResMed in the fourth quarter valued at approximately $7,535,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the subject of several research reports. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Wolfe Research reiterated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Robert W. Baird started coverage on shares of ResMed in a research report on Tuesday. They set an “outperform” rating and a $280.00 price target on the stock. KeyCorp increased their price objective on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $207.00.

Insider Buying and Selling at ResMed

In other news, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $194.35, for a total value of $194,350.00. Following the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at approximately $17,502,383.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $194.35, for a total value of $194,350.00. Following the sale, the chief financial officer now owns 90,056 shares of the company’s stock, valued at $17,502,383.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Justin Leong sold 48,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 18,741 shares of the company’s stock, valued at $4,068,108.87. The disclosure for this sale can be found here. Insiders sold a total of 102,931 shares of company stock worth $22,644,807 over the last three months. Insiders own 1.21% of the company’s stock.

ResMed Stock Down 2.6 %

RMD stock opened at $240.75 on Thursday. ResMed Inc. has a one year low of $132.24 and a one year high of $255.18. The firm has a market cap of $35.37 billion, a PE ratio of 36.98, a PEG ratio of 2.45 and a beta of 0.69. The firm’s 50 day moving average price is $228.54 and its 200-day moving average price is $210.41. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.60 earnings per share. On average, equities research analysts anticipate that ResMed Inc. will post 8.92 EPS for the current year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a yield of 0.88%. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is presently 32.57%.

ResMed Profile

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.