Axa S.A. Grows Position in ResMed Inc. $RMD

Axa S.A. lifted its position in ResMed Inc. (NYSE:RMD) by 76.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 112,977 shares of the medical equipment provider’s stock after purchasing an additional 48,997 shares during the period. Axa S.A.’s holdings in ResMed were worth $29,148,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new position in ResMed in the 1st quarter worth $45,000. Groupe la Francaise purchased a new stake in ResMed in the first quarter worth about $45,000. Harbour Investments Inc. raised its holdings in ResMed by 264.2% in the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 177 shares in the last quarter. Quarry LP boosted its stake in ResMed by 141.1% during the first quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after acquiring an additional 182 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new stake in ResMed during the 2nd quarter valued at $77,000. Institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In other ResMed news, General Counsel Michael J. Rider sold 100 shares of the business’s 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 transaction, the general counsel owned 11,327 shares of the company’s stock, valued at $3,107,675.72. The trade was a 0.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Witte Jan De sold 2,055 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total value of $524,025.00. Following the transaction, the director directly owned 4,261 shares in the company, valued at $1,086,555. The trade was a 32.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,662 shares of company stock worth $5,946,466 in the last three months. Insiders own 0.65% of the company’s stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $246.44 on Wednesday. The company has a current ratio of 2.89, a quick ratio of 2.13 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $258.49 and its 200-day moving average is $263.77. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81. The firm has a market capitalization of $35.97 billion, a PE ratio of 25.22, a PEG ratio of 1.69 and a beta of 0.87.

ResMed (NYSE:RMD) last announced its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping the consensus estimate of $2.49 by $0.06. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.20 earnings per share. Sell-side analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be paid 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 of this dividend is Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is currently 24.56%.

Analyst Ratings Changes

RMD has been the subject of a number of recent research reports. Morgan Stanley set a $305.00 price target on ResMed in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of ResMed in a research note on Tuesday, December 2nd. Robert W. Baird decreased their price target on ResMed from $320.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Royal Bank Of Canada upped their price objective on ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, Mizuho decreased their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $297.45.

About ResMed

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.