CCLA Investment Management Buys 830 Shares of ResMed Inc. (NYSE:RMD)

CCLA Investment Management grew its stake in shares of ResMed Inc. (NYSE:RMD) by 3.0% in the second quarter, Holdings Channel reports. The fund owned 28,316 shares of the medical equipment provider’s stock after acquiring an additional 830 shares during the quarter. CCLA Investment Management’s holdings in ResMed were worth $5,429,000 as of its most recent filing with the Securities & Exchange Commission.

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

ResMed Price Performance

Shares of NYSE RMD opened at $250.88 on Wednesday. The stock’s 50-day simple moving average is $224.34 and its two-hundred day simple moving average is $208.32. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $255.18. The firm has a market capitalization of $36.86 billion, a P/E ratio of 38.54, a P/E/G ratio of 2.49 and a beta of 0.69. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. The company 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 revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.60 earnings per share. As a group, equities analysts anticipate that ResMed Inc. will post 8.92 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently declared 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 a positive change from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. ResMed’s dividend payout ratio is presently 32.57%.

Analysts Set New Price Targets

RMD has been the subject of several recent research reports. KeyCorp lifted their target price on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. 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. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Finally, Needham & Company LLC cut ResMed from a “buy” rating to a “hold” rating and set a $236.00 price objective on the stock. in a report on Wednesday, September 4th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $204.70.

Insider Transactions at ResMed

In related news, insider Justin Leong sold 48,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the transaction, the insider now owns 18,741 shares of the company’s stock, valued at $4,068,108.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the transaction, the director now directly owns 87,204 shares of the company’s stock, valued at $20,920,239.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,931 shares of company stock valued at $22,644,807. Insiders own 1.21% of the company’s stock.

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.