Bank of Montreal Can Purchases 99,106 Shares of ResMed Inc. (NYSE:RMD)

Bank of Montreal Can increased its position in ResMed Inc. (NYSE:RMD) by 65.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 251,490 shares of the medical equipment provider’s stock after buying an additional 99,106 shares during the quarter. Bank of Montreal Can’s holdings in ResMed were worth $47,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Lombard Odier Asset Management Europe Ltd increased its position in ResMed by 88.4% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 99,803 shares of the medical equipment provider’s stock valued at $19,104,000 after acquiring an additional 46,816 shares during the period. Evergreen Capital Management LLC raised its position in ResMed by 36.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,402 shares of the medical equipment provider’s stock worth $268,000 after purchasing an additional 378 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in ResMed by 74.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 5,632 shares of the medical equipment provider’s stock worth $1,078,000 after buying an additional 2,398 shares during the period. Frank Rimerman Advisors LLC acquired a new position in ResMed during the 2nd quarter worth about $259,000. Finally, ProShare Advisors LLC grew its position in shares of ResMed by 6.1% in the 2nd quarter. ProShare Advisors LLC now owns 26,622 shares of the medical equipment provider’s stock valued at $5,096,000 after buying an additional 1,522 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

RMD stock opened at $240.75 on Thursday. 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 company’s 50-day moving average is $228.54 and its 200-day moving average is $210.41. The stock has a market capitalization of $35.37 billion, a PE ratio of 36.98, a price-to-earnings-growth ratio of 2.45 and a beta of 0.69. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $255.18.

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

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s payout ratio is 32.57%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RMD shares. Royal Bank of Canada lifted their price objective on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Wednesday, September 18th. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Finally, Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $207.00.

Insiders Place Their Bets

In other news, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at $4,068,108.87. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the transaction, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $85,060,983.03. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Justin Leong sold 48,000 shares of the company’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 sale, the insider now owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,931 shares of company stock worth $22,644,807. Insiders own 1.21% of the company’s stock.

ResMed Company 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.