ResMed Inc. (NYSE:RMD) Shares Acquired by Bokf Na

Bokf Na increased its stake in ResMed Inc. (NYSE:RMD) by 753.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,358 shares of the medical equipment provider’s stock after purchasing an additional 15,323 shares during the quarter. Bokf Na’s holdings in ResMed were worth $3,323,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Atlantic Edge Private Wealth Management LLC purchased a new position in ResMed in the fourth quarter valued at about $27,000. OFI Invest Asset Management purchased a new position in ResMed in the 2nd quarter valued at approximately $32,000. BOK Financial Private Wealth Inc. acquired a new position in ResMed during the first quarter worth $35,000. Versant Capital Management Inc boosted its position in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in ResMed in the second quarter valued at $37,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Down 0.7 %

Shares of ResMed stock opened at $248.93 on Friday. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $255.18. The business’s fifty day moving average is $221.95 and its two-hundred day moving average is $206.83. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The firm has a market cap of $36.58 billion, a PE ratio of 38.24, a P/E/G ratio of 2.51 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.60 EPS. Analysts anticipate that ResMed Inc. will post 8.92 earnings per share for the current year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 15th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. This is an increase from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, August 15th. ResMed’s payout ratio is presently 32.57%.

Insider Buying and Selling

In other news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the completion of the sale, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at approximately $85,060,983.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $194.35, for a total value of $194,350.00. Following the transaction, the chief financial officer now owns 90,056 shares of the company’s stock, valued at approximately $17,502,383.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Monday, July 8th. The shares were sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the transaction, the chief executive officer now owns 440,799 shares in the company, valued at approximately $85,060,983.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,931 shares of company stock valued at $22,644,807. Insiders own 1.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. KeyCorp lifted their price objective on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada increased their target price on ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Hold” and a consensus target price of $204.70.

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.