Commerce Bank Makes New Investment in ResMed Inc. $RMD

Commerce Bank bought a new stake in ResMed Inc. (NYSE:RMD) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 7,647 shares of the medical equipment provider’s stock, valued at approximately $1,490,000.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in ResMed during the fourth quarter valued at $25,000. Bell Investment Advisors Inc bought a new position in ResMed during the 2nd quarter worth $26,000. Imprint Wealth LLC acquired a new stake in ResMed in the third quarter worth $26,000. WFA of San Diego LLC bought a new stake in ResMed in the second quarter valued at $26,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of ResMed during the third quarter valued at $31,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Performance

RMD opened at $236.36 on Wednesday. The business has a 50 day moving average price of $208.86 and a two-hundred day moving average price of $219.51. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. The company has a market capitalization of $34.09 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 1.46 and a beta of 0.76. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $286.91.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.06. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the firm earned $2.55 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts predict that ResMed Inc. will post 12.03 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, August 20th. This is an increase from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a yield of 1.1%. ResMed’s dividend payout ratio is presently 25.31%.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of ResMed from $225.00 to $215.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. Royal Bank Of Canada boosted their price objective on ResMed from $234.00 to $244.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. Robert W. Baird set a $213.00 price target on ResMed in a research report on Friday, August 7th. UBS Group reissued a “buy” rating and issued a $300.00 price target on shares of ResMed in a research note on Tuesday, July 21st. Finally, Weiss Ratings upgraded shares of ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $239.38.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 8,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total value of $1,800,000.00. Following the sale, the director directly owned 52,773 shares in the company, valued at approximately $11,873,925. The trade was a 13.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the completion of the sale, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at $95,904,196.64. The trade was a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 22,973 shares of company stock worth $4,885,436. 0.65% of the stock is owned by corporate insiders.

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.