OVERSEA CHINESE BANKING Corp Ltd Has $4.75 Million Stock Position in ResMed Inc. (NYSE:RMD)

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 17.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,452 shares of the medical equipment provider’s stock after buying an additional 2,891 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in ResMed were worth $4,749,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its holdings in ResMed by 1.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock worth $631,000 after purchasing an additional 60 shares during the last quarter. Empowered Funds LLC lifted its holdings in ResMed by 88.8% in the first quarter. Empowered Funds LLC now owns 2,764 shares of the medical equipment provider’s stock valued at $547,000 after buying an additional 1,300 shares during the period. Concurrent Investment Advisors LLC bought a new stake in ResMed during the first quarter valued at $234,000. Sei Investments Co. grew its holdings in ResMed by 12.9% during the 1st quarter. Sei Investments Co. now owns 21,708 shares of the medical equipment provider’s stock worth $4,299,000 after acquiring an additional 2,484 shares during the period. Finally, Meeder Advisory Services Inc. bought a new position in shares of ResMed in the 1st quarter worth about $208,000. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Performance

Shares of RMD stock opened at $247.11 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $243.44 and a 200 day moving average of $223.08. The firm has a market capitalization of $36.28 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 1.82 and a beta of 0.69. ResMed Inc. has a 52 week low of $140.81 and a 52 week high of $260.49.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the company earned $1.64 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. As a group, research analysts expect that ResMed Inc. will post 9.22 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.86%. ResMed’s dividend payout ratio is presently 28.08%.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the sale, the director now directly owns 87,204 shares of the company’s stock, valued at $20,920,239.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the completion of the sale, the director now owns 87,204 shares of the company’s stock, valued at $20,920,239.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kaushik Ghoshal sold 4,260 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the transaction, the insider now owns 21,788 shares in the company, valued at $5,196,002.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,260 shares of company stock worth $14,887,967 over the last 90 days. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Royal Bank of Canada lifted their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. KeyCorp increased their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Bank of America upped their price target on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

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.