DekaBank Deutsche Girozentrale Sells 4,399 Shares of ResMed Inc. (NYSE:RMD)

DekaBank Deutsche Girozentrale decreased its stake in shares of ResMed Inc. (NYSE:RMD) by 13.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,416 shares of the medical equipment provider’s stock after selling 4,399 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in ResMed were worth $5,319,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. Dorsey & Whitney Trust CO LLC raised its holdings in shares of ResMed by 3.7% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock valued at $292,000 after purchasing an additional 52 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of ResMed by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock valued at $247,000 after purchasing an additional 56 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of ResMed by 1.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock valued at $631,000 after purchasing an additional 60 shares in the last quarter. Gulf International Bank UK Ltd raised its holdings in shares of ResMed by 0.5% in the 1st quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock valued at $2,497,000 after purchasing an additional 66 shares in the last quarter. Finally, Quent Capital LLC raised its holdings in shares of ResMed by 8.7% in the 2nd quarter. Quent Capital LLC now owns 823 shares of the medical equipment provider’s stock valued at $157,000 after purchasing an additional 66 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 0.4 %

NYSE:RMD opened at $250.88 on Wednesday. The company has a market cap of $36.86 billion, a PE ratio of 38.54, a P/E/G ratio of 2.49 and a beta of 0.69. ResMed Inc. has a twelve month low of $132.24 and a twelve 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. The company’s 50 day moving average is $224.34 and its two-hundred day moving average is $208.32.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 EPS. Analysts anticipate that ResMed Inc. will post 8.92 EPS for the current year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be issued a $0.53 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, August 15th. ResMed’s dividend payout ratio is 32.57%.

Insider Activity

In other news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $194.35, for a total value of $194,350.00. Following the completion of the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at approximately $17,502,383.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the transaction, the insider now owns 18,741 shares of the company’s stock, valued at $4,068,108.87. The disclosure for this sale can be found here. Insiders have sold 102,931 shares of company stock valued at $22,644,807 in the last ninety days. Insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. KeyCorp boosted their price target on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Needham & Company LLC downgraded shares of ResMed from a “buy” rating to a “hold” rating and set a $236.00 price objective on the stock. in a research report on Wednesday, September 4th. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Finally, Royal Bank of Canada lifted their price objective on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, ResMed presently has an average rating of “Hold” and a consensus price target of $204.70.

ResMed 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.