APG Asset Management N.V. Acquires 42,332 Shares of ResMed Inc. (NYSE:RMD)

APG Asset Management N.V. lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 42.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,551 shares of the medical equipment provider’s stock after purchasing an additional 42,332 shares during the period. APG Asset Management N.V.’s holdings in ResMed were worth $25,460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Franklin Resources Inc. boosted its holdings in shares of ResMed by 64.1% during the 4th quarter. Franklin Resources Inc. now owns 39,991 shares of the medical equipment provider’s stock worth $6,879,000 after buying an additional 15,627 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in ResMed by 173.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 14,884 shares of the medical equipment provider’s stock worth $2,560,000 after acquiring an additional 9,442 shares in the last quarter. Parallel Advisors LLC grew its holdings in ResMed by 15.4% in the fourth quarter. Parallel Advisors LLC now owns 1,102 shares of the medical equipment provider’s stock worth $190,000 after purchasing an additional 147 shares during the period. Steward Partners Investment Advisory LLC increased its stake in ResMed by 23.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the medical equipment provider’s stock valued at $205,000 after purchasing an additional 225 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of ResMed by 9.5% during the fourth quarter. TD Asset Management Inc now owns 51,298 shares of the medical equipment provider’s stock valued at $8,824,000 after purchasing an additional 4,441 shares during the period. Institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In related news, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the sale, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the transaction, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at $115,290,296.22. The disclosure for this sale can be found here. Insiders have sold 102,931 shares of company stock worth $22,644,807 in the last ninety days. Company insiders own 1.21% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of several research reports. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Wednesday, September 18th. Robert W. Baird assumed coverage on ResMed in a report on Tuesday. They set an “outperform” rating and a $280.00 price objective for the company. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Finally, Oppenheimer downgraded shares of 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 assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ResMed has an average rating of “Moderate Buy” and an average target price of $212.25.

ResMed Stock Down 1.5 %

ResMed stock opened at $239.00 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The stock has a market cap of $35.12 billion, a PE ratio of 36.71, a price-to-earnings-growth ratio of 2.46 and a beta of 0.69. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $255.18. The firm’s 50-day simple moving average is $230.00 and its 200 day simple moving average is $210.84.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The firm 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 was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 EPS. Research analysts predict that ResMed Inc. will post 8.92 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. ResMed’s dividend payout ratio (DPR) is currently 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.