C WorldWide Group Holding A S Increases Stock Position in ResMed Inc. $RMD

C WorldWide Group Holding A S grew its holdings in ResMed Inc. (NYSE:RMD) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,987 shares of the medical equipment provider’s stock after purchasing an additional 4,048 shares during the quarter. C WorldWide Group Holding A S’s holdings in ResMed were worth $11,690,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RMD. California State Teachers Retirement System grew its holdings in ResMed by 19,648.1% during the 2nd quarter. California State Teachers Retirement System now owns 43,963,369 shares of the medical equipment provider’s stock valued at $8,567,581,000 after buying an additional 43,740,748 shares during the last quarter. BlackRock Inc. acquired a new position in ResMed in the 2nd quarter valued at about $2,400,375,000. State Street Corp lifted its holdings in ResMed by 1.2% in the 4th quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider’s stock valued at $1,595,862,000 after purchasing an additional 76,244 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of ResMed by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 4,925,386 shares of the medical equipment provider’s stock worth $1,105,651,000 after buying an additional 34,732 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of ResMed by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,302,906 shares of the medical equipment provider’s stock valued at $1,032,877,000 after buying an additional 51,218 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other news, CEO Michael Farrell sold 4,991 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the transaction, the chief executive officer owned 466,256 shares of the company’s stock, valued at approximately $95,904,196.64. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter Farrell sold 970 shares of ResMed stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $234.73, for a total value of $227,688.10. Following the completion of the transaction, the director owned 51,803 shares of the company’s stock, valued at $12,159,718.19. This trade represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 18,952 shares of company stock worth $4,145,070. Company insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on RMD shares. Robert W. Baird set a $213.00 target price on shares of ResMed in a research note on Friday, August 7th. Jefferies Financial Group reduced their target price on ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. UBS Group restated a “buy” rating and issued a $300.00 price target on shares of ResMed in a report on Tuesday, July 21st. Royal Bank Of Canada increased their price objective on shares of ResMed from $234.00 to $244.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Finally, Weiss Ratings upgraded ResMed from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ResMed currently has a consensus rating of “Hold” and an average target price of $240.31.

ResMed Stock Down 3.1%

Shares of ResMed stock opened at $221.20 on Wednesday. The company has a market capitalization of $31.91 billion, a PE ratio of 21.21, a P/E/G ratio of 1.44 and a beta of 0.77. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $284.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. The business has a 50-day moving average of $216.62 and a 200-day moving average of $217.52.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm earned $2.55 EPS. ResMed’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts forecast that ResMed Inc. will post 12.02 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, August 20th. This is an increase from ResMed’s previous quarterly dividend of $0.60. ResMed’s payout ratio is presently 25.31%.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.