Gulf International Bank UK Ltd Raises Stock Holdings in ResMed Inc. (NYSE:RMD)

Gulf International Bank UK Ltd increased its stake in shares of ResMed Inc. (NYSE:RMD) by 0.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,614 shares of the medical equipment provider’s stock after purchasing an additional 66 shares during the quarter. Gulf International Bank UK Ltd’s holdings in ResMed were worth $2,497,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RMD. Park Avenue Securities LLC raised its stake in ResMed by 20.3% in the first quarter. Park Avenue Securities LLC now owns 2,266 shares of the medical equipment provider’s stock valued at $449,000 after buying an additional 382 shares during the last quarter. Wedmont Private Capital raised its stake in ResMed by 6.5% in the first quarter. Wedmont Private Capital now owns 1,700 shares of the medical equipment provider’s stock valued at $330,000 after buying an additional 104 shares during the last quarter. Czech National Bank raised its stake in ResMed by 0.5% in the first quarter. Czech National Bank now owns 25,880 shares of the medical equipment provider’s stock valued at $5,125,000 after buying an additional 118 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in ResMed by 22.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 59,751 shares of the medical equipment provider’s stock valued at $11,832,000 after buying an additional 11,030 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in ResMed in the first quarter valued at about $119,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Down 3.5 %

ResMed stock opened at $205.83 on Friday. The firm has a market cap of $30.24 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 2.09 and a beta of 0.68. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $229.97. The business’s 50-day moving average price is $207.76 and its 200 day moving average price is $190.47. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating the consensus estimate of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned $1.68 earnings per share. ResMed’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that ResMed Inc. will post 7.7 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.93%. The ex-dividend date was Wednesday, May 8th. ResMed’s payout ratio is currently 29.49%.

Analysts Set New Price Targets

A number of research firms have commented on RMD. Royal Bank of Canada increased their price target on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. KeyCorp raised their price objective on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Mizuho restated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Oppenheimer reduced their price objective on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Finally, Needham & Company LLC raised their price objective on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $202.80.

Insider Buying and Selling at ResMed

In other ResMed news, Director Witte Jan De sold 360 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total value of $78,584.40. Following the sale, the director now directly owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $209.81, for a total value of $209,810.00. Following the sale, the chief financial officer now directly owns 91,056 shares of the company’s stock, valued at $19,104,459.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Witte Jan De sold 360 shares of ResMed stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the sale, the director now directly owns 7,519 shares in the company, valued at $1,641,322.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,151 shares of company stock valued at $6,666,409. Company insiders own 1.21% 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. 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.