BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stock Position in ResMed Inc. (NYSE:RMD)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of ResMed Inc. (NYSE:RMD) by 60.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 28,171 shares of the medical equipment provider’s stock after buying an additional 10,609 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in ResMed were worth $5,392,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RMD. Marshall Wace LLP purchased a new stake in shares of ResMed during the second quarter worth about $77,285,000. Bank of Montreal Can grew its stake in ResMed by 65.0% during the 2nd quarter. Bank of Montreal Can now owns 251,490 shares of the medical equipment provider’s stock valued at $47,086,000 after purchasing an additional 99,106 shares in the last quarter. Lombard Odier Asset Management Europe Ltd grew its stake in ResMed by 88.4% during 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 purchasing an additional 46,816 shares in the last quarter. Evergreen Capital Management LLC increased its holdings 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. Finally, Public Sector Pension Investment Board raised its position in shares of ResMed by 74.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,632 shares of the medical equipment provider’s stock valued at $1,078,000 after purchasing an additional 2,398 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the transaction, the director now directly owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the transaction, the director now owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction that occurred 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 directly owns 18,741 shares of the company’s stock, valued at $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 valued at $22,644,807. Insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Wolfe Research reissued an “underperform” rating and set a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. Royal Bank of Canada upped their target price on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Wednesday, September 18th. Finally, StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $212.25.

ResMed Trading Up 0.7 %

Shares of NYSE RMD opened at $242.48 on Friday. The company has a market cap of $35.62 billion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 2.45 and a beta of 0.69. The stock’s 50 day simple moving average is $229.23 and its 200 day simple moving average is $210.62. 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 Inc. has a 12-month low of $132.24 and a 12-month 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, beating the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts expect that ResMed Inc. will post 8.92 EPS for the current year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio (DPR) is presently 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.