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

OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 17.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,452 shares of the medical equipment provider's stock after acquiring an additional 2,891 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in ResMed were worth $4,749,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of ResMed by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider's stock worth $1,105,022,000 after purchasing an additional 1,959,642 shares during the period. Los Angeles Capital Management LLC increased its position in ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider's stock worth $141,694,000 after buying an additional 241,195 shares during the period. Greenvale Capital LLP lifted its stake in ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock valued at $138,780,000 after buying an additional 275,000 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of ResMed by 19.3% during the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider's stock worth $126,670,000 after acquiring an additional 107,279 shares during the last quarter. Finally, Tandem Investment Advisors Inc. grew its position in shares of ResMed by 3.0% during the second quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider's stock worth $95,976,000 after acquiring an additional 14,590 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. KeyCorp increased their price objective on ResMed from $251.00 to $266.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Bank of America lifted their target price on ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Baird R W raised ResMed to a "strong-buy" rating in a research note on Tuesday, September 24th. Finally, Robert W. Baird lifted their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. One 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 stock. According to data from MarketBeat.com, ResMed presently has an average rating of "Moderate Buy" and an average target price of $225.70.

Insider Buying and Selling

In other ResMed news, General Counsel Michael J. Rider sold 882 shares of the firm's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the transaction, the general counsel now directly owns 10,512 shares in the company, valued at $2,428,272. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Kaushik Ghoshal sold 5,000 shares of the company's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the transaction, the insider now owns 21,788 shares in the company, valued at $5,502,777.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Michael J. Rider sold 882 shares of the business's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total transaction of $203,742.00. Following the transaction, the general counsel now directly owns 10,512 shares in the company, valued at $2,428,272. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,260 shares of company stock valued at $14,887,967. 0.71% of the stock is owned by corporate insiders.

ResMed Price Performance

Shares of RMD traded down $11.77 during mid-day trading on Wednesday, hitting $235.44. The company's stock had a trading volume of 993,688 shares, compared to its average volume of 1,048,609. ResMed Inc. has a fifty-two week low of $144.29 and a fifty-two week high of $260.49. The stock has a market capitalization of $34.56 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 1.81 and a beta of 0.69. The firm has a 50-day moving average price of $243.48 and a 200 day moving average price of $223.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 earnings per share. On average, research analysts predict that ResMed Inc. will post 9.22 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. ResMed's dividend payout ratio (DPR) is 28.08%.

ResMed Company Profile

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.