ResMed Inc. $RMD Shares Bought by Deutsche Bank AG

Deutsche Bank AG increased its stake in ResMed Inc. (NYSE:RMD) by 126.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,413,477 shares of the medical equipment provider’s stock after purchasing an additional 787,949 shares during the period. Deutsche Bank AG owned 0.97% of ResMed worth $340,464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Terra Nova Asset Management LLC boosted its stake in ResMed by 0.6% in the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after purchasing an additional 46 shares in the last quarter. IMA Advisory Services Inc. boosted its stake in ResMed by 52.7% in the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 48 shares in the last quarter. Occidental Asset Management LLC increased its holdings in shares of ResMed by 3.0% in the fourth quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock valued at $409,000 after purchasing an additional 49 shares during the period. Wedmont Private Capital increased its holdings in shares of ResMed by 2.7% in the fourth quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock valued at $542,000 after purchasing an additional 57 shares during the period. Finally, New Wave Wealth Advisors LLC increased its holdings in shares of ResMed by 3.0% in the fourth quarter. New Wave Wealth Advisors LLC now owns 1,956 shares of the medical equipment provider’s stock valued at $471,000 after purchasing an additional 57 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $193.96, for a total value of $968,054.36. Following the completion of the transaction, the chief executive officer owned 466,256 shares of the company’s stock, valued at approximately $90,435,013.76. This represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,973 shares of company stock valued at $3,580,754 in the last ninety days. 0.65% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RMD. Citigroup cut their price objective on ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Evercore set a $255.00 price objective on ResMed and gave the company an “outperform” rating in a report on Monday, April 13th. JPMorgan Chase & Co. began coverage on ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating on the stock. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Royal Bank Of Canada increased their price objective on ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $286.18.

ResMed Price Performance

Shares of NYSE RMD opened at $193.78 on Thursday. The stock has a market capitalization of $28.11 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 1.25 and a beta of 0.80. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81. The firm’s 50 day simple moving average is $211.53 and its 200-day simple moving average is $236.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.ResMed’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.37 EPS. Analysts expect that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. ResMed’s dividend payout ratio is presently 23.14%.

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.