ResMed Inc. $RMD Stock Position Raised by Axa S.A.

Axa S.A. increased its stake in ResMed Inc. (NYSE:RMD) by 76.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,977 shares of the medical equipment provider’s stock after purchasing an additional 48,997 shares during the period. Axa S.A. owned 0.08% of ResMed worth $29,148,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMD. ICW Investment Advisors LLC lifted its position in ResMed by 0.4% in the first quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider’s stock worth $2,551,000 after purchasing an additional 41 shares during the period. Johnson Investment Counsel Inc. boosted its position in ResMed by 2.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after acquiring an additional 45 shares during the period. Quadcap Wealth Management LLC grew its position in ResMed by 2.5% during the second quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock valued at $485,000 after purchasing an additional 45 shares in the last quarter. Smartleaf Asset Management LLC increased its position in ResMed by 3.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock worth $269,000 after purchasing an additional 46 shares during the last quarter. Finally, E Fund Management Co. Ltd. increased its holdings in shares of ResMed by 2.8% during the 1st quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider’s stock valued at $385,000 after acquiring an additional 47 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $251.47, for a total value of $502,940.00. Following the completion of the transaction, the director directly owned 68,773 shares of the company’s stock, valued at approximately $17,294,346.31. This trade represents a 2.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,011 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $249.75, for a total transaction of $2,000,747.25. Following the sale, the chief executive officer directly owned 467,866 shares of the company’s stock, valued at approximately $116,849,533.50. This trade represents a 1.68% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 22,662 shares of company stock worth $5,946,466. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RMD shares. Citigroup began coverage on ResMed in a report on Thursday, September 18th. They issued a “buy” rating and a $330.00 target price on the stock. UBS Group raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 16th. Royal Bank Of Canada lifted their price target on ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Wells Fargo & Company initiated coverage on ResMed in a research report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price objective on the stock. Finally, Mizuho cut their price objective on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $297.45.

ResMed Stock Performance

Shares of NYSE RMD opened at $246.44 on Wednesday. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The company has a market capitalization of $35.97 billion, a P/E ratio of 25.22, a P/E/G ratio of 1.69 and a beta of 0.87. The stock has a 50 day moving average of $258.49 and a 200-day moving average of $263.77. The company has a current ratio of 2.89, a quick ratio of 2.13 and a debt-to-equity ratio of 0.07.

ResMed (NYSE:RMD) last released its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.06. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the company posted $2.20 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. ResMed’s payout ratio is 24.56%.

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.