Czech National Bank Purchases 1,936 Shares of ResMed Inc. (NYSE:RMD)

Czech National Bank increased its position in ResMed Inc. (NYSE:RMD) by 6.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,931 shares of the medical equipment provider’s stock after purchasing an additional 1,936 shares during the period. Czech National Bank’s holdings in ResMed were worth $7,307,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OFI Invest Asset Management bought a new position in ResMed during the 2nd quarter valued at about $32,000. BOK Financial Private Wealth Inc. bought a new position in ResMed during the 1st quarter valued at about $35,000. Versant Capital Management Inc lifted its stake in ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares during the period. Financial Connections Group Inc. bought a new position in ResMed during the 2nd quarter valued at about $37,000. Finally, Riverview Trust Co bought a new position in ResMed during the 1st quarter valued at about $42,000. Institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other news, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction that occurred 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 completion of the transaction, the insider now owns 18,741 shares in the company, valued at approximately $4,068,108.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction that occurred 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 completion of the transaction, the insider now owns 18,741 shares in the company, valued at approximately $4,068,108.87. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $212.16, for a total value of $212,160.00. Following the transaction, the chief financial officer now owns 89,056 shares of the company’s stock, valued at approximately $18,894,120.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,614 shares of company stock worth $27,135,217 over the last 90 days. 1.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RMD has been the topic of several research analyst reports. Wolfe Research restated an “underperform” rating and set a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Robert W. Baird assumed coverage on shares of ResMed in a research report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price target for the company. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada upped their price target on shares of ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $218.18.

ResMed Trading Up 0.4 %

ResMed stock opened at $237.93 on Friday. The firm has a 50 day moving average of $235.54 and a 200 day moving average of $213.84. The firm has a market capitalization of $34.92 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 2.11 and a beta of 0.69. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $255.18. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted $1.60 EPS. The company’s revenue was up 6.9% on a year-over-year basis. As a group, research analysts predict that ResMed Inc. will post 9.02 earnings per share for the current year.

ResMed Increases Dividend

The company 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. This is an increase from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Thursday, August 15th. ResMed’s dividend payout ratio is currently 32.57%.

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.