ResMed Inc. (NYSE:RMD) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lessened its stake in ResMed Inc. (NYSE:RMD) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,184 shares of the medical equipment provider’s stock after selling 196 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in ResMed were worth $2,524,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in ResMed by 24.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock valued at $35,068,000 after buying an additional 35,273 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of ResMed by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 536,459 shares of the medical equipment provider’s stock valued at $92,285,000 after acquiring an additional 40,605 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of ResMed during the 1st quarter valued at approximately $2,246,000. Janney Montgomery Scott LLC lifted its stake in ResMed by 5.3% during the first quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock worth $16,102,000 after purchasing an additional 4,075 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in ResMed by 3,599.0% in the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock worth $98,823,000 after purchasing an additional 485,540 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 2.1 %

Shares of RMD stock opened at $242.95 on Friday. The firm has a market capitalization of $35.70 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.50 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $255.18. The stock has a fifty day moving average of $226.11 and a two-hundred day moving average of $208.77.

ResMed (NYSE:RMD) last released its earnings results 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 firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. ResMed’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS. As a group, research analysts expect that ResMed Inc. will post 8.92 EPS for the current year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. This is an increase from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, August 15th. ResMed’s dividend payout ratio is 32.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RMD. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Wednesday. Wolfe Research reiterated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. KeyCorp upped their target price on ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada raised their price target on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $199.70.

Insiders Place Their Bets

In other news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares in the company, valued at approximately $5,502,777.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction dated 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 owns 18,741 shares in the company, valued at $4,068,108.87. The disclosure for this sale can be found here. Insiders sold 102,931 shares of company stock worth $22,644,807 over the last ninety days. 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.