Harel Insurance Investments & Financial Services Ltd. Raises Holdings in ResMed Inc. $RMD

Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 6.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 33,477 shares of the medical equipment provider’s stock after purchasing an additional 1,925 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in ResMed were worth $8,637,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of RMD. Vontobel Holding Ltd. raised its stake in shares of ResMed by 49.7% during the 1st quarter. Vontobel Holding Ltd. now owns 5,143 shares of the medical equipment provider’s stock worth $1,151,000 after buying an additional 1,707 shares in the last quarter. Mutual Advisors LLC raised its stake in shares of ResMed by 196.2% during the 1st quarter. Mutual Advisors LLC now owns 2,595 shares of the medical equipment provider’s stock worth $612,000 after buying an additional 1,719 shares in the last quarter. D.A. Davidson & CO. purchased a new position in shares of ResMed during the 1st quarter worth approximately $688,000. OneDigital Investment Advisors LLC raised its stake in shares of ResMed by 34.7% during the 1st quarter. OneDigital Investment Advisors LLC now owns 1,239 shares of the medical equipment provider’s stock worth $277,000 after buying an additional 319 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its stake in shares of ResMed by 10.9% during the 1st quarter. IFM Investors Pty Ltd now owns 29,483 shares of the medical equipment provider’s stock worth $7,197,000 after buying an additional 2,905 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of analyst reports. CLSA raised ResMed from a “hold” rating to an “outperform” rating in a research note on Tuesday, September 2nd. Royal Bank Of Canada upped their target price on ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a report on Friday. KeyCorp raised their price target on ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a research report on Friday. Stifel Nicolaus lifted their price target on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 1st. Finally, UBS Group raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $297.20.

ResMed Trading Down 2.2%

Shares of ResMed stock opened at $246.67 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a market capitalization of $36.00 billion, a P/E ratio of 25.94, a P/E/G ratio of 1.75 and a beta of 0.83. The business has a 50 day moving average price of $271.78 and a 200 day moving average price of $261.08.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 30th. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.06. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The firm 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 firm posted $2.20 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Sell-side analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s payout ratio is currently 25.24%.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total value of $2,265,345.65. Following the completion of the sale, the chief executive officer directly owned 467,792 shares of the company’s stock, valued at approximately $132,314,967.20. The trade was a 1.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. Rider sold 100 shares of ResMed stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the sale, the general counsel directly owned 11,327 shares of the company’s stock, valued at $3,107,675.72. The trade was a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 18,693 shares of company stock valued at $5,270,419. Company insiders own 0.65% 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. 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.