Creative Planning increased its position in shares of ResMed Inc. (NYSE:RMD – Free Report) by 13.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,767 shares of the medical equipment provider’s stock after acquiring an additional 901 shares during the quarter. Creative Planning’s holdings in ResMed were worth $1,697,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. WCM Investment Management LLC increased its stake in ResMed by 0.7% during the 2nd quarter. WCM Investment Management LLC now owns 3,504,371 shares of the medical equipment provider’s stock valued at $768,719,000 after purchasing an additional 22,791 shares in the last quarter. Geode Capital Management LLC increased its stake in ResMed by 3.3% during the 1st quarter. Geode Capital Management LLC now owns 3,231,885 shares of the medical equipment provider’s stock valued at $706,314,000 after purchasing an additional 103,438 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of ResMed by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 1,260,009 shares of the medical equipment provider’s stock worth $275,929,000 after acquiring an additional 17,283 shares during the period. Norges Bank acquired a new stake in shares of ResMed in the fourth quarter worth $244,477,000. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of ResMed by 59,600.0% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,020,870 shares of the medical equipment provider’s stock worth $223,060,000 after acquiring an additional 1,019,160 shares during the period. Institutional investors own 63.79% of the company’s stock.
ResMed Stock Performance
NYSE:RMD opened at $136.31 on Friday. The company’s 50-day moving average price is $156.23 and its 200-day moving average price is $198.78. The company has a current ratio of 3.12, a quick ratio of 1.81 and a debt-to-equity ratio of 0.35. The company has a market cap of $20.05 billion, a P/E ratio of 22.35, a P/E/G ratio of 2.67 and a beta of 0.54. ResMed Inc. has a twelve month low of $136.02 and a twelve month high of $243.52.
ResMed Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Thursday, August 17th were given a dividend of $0.48 per share. This is a boost from ResMed’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Wednesday, August 16th. ResMed’s dividend payout ratio (DPR) is presently 31.48%.
Insider Buying and Selling
In related news, CEO Michael J. Farrell sold 5,675 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $221.27, for a total transaction of $1,255,707.25. Following the completion of the sale, the chief executive officer now directly owns 436,930 shares in the company, valued at $96,679,501.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other ResMed news, CEO Michael J. Farrell sold 5,675 shares of ResMed stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $221.27, for a total transaction of $1,255,707.25. Following the completion of the sale, the chief executive officer now directly owns 436,930 shares in the company, valued at $96,679,501.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Robert Andrew Douglas sold 1,500 shares of ResMed stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $222.22, for a total transaction of $333,330.00. Following the sale, the chief operating officer now owns 252,026 shares of the company’s stock, valued at $56,005,217.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,075 shares of company stock worth $3,740,000. Insiders own 1.21% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on RMD shares. Wolfe Research lowered shares of ResMed from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 29th. TheStreet lowered shares of ResMed from a “b-” rating to a “c+” rating in a research note on Thursday, August 24th. Bank of America cut their price objective on shares of ResMed from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Monday, September 18th. Royal Bank of Canada downgraded shares of ResMed from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $273.00 to $202.00 in a report on Thursday. Finally, UBS Group downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a report on Tuesday, September 5th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $213.86.
Check Out Our Latest Research Report on RMD
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.
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