Manulife buys $14.4M ResMed stake as revenue climbs 8.6%
What's the deal? The Manufacturers Life Insurance CompanyDealroom has a profile for this one. Try Dealroom → bought 73,774 shares of ResMed Inc.Dealroom has a profile for this one. Try Dealroom → in the second quarter, a stake worth roughly $14.38 million, according to an SEC filing. ResMed makes medical equipment for sleep and respiratory care.
What do the numbers say? ResMed reported revenue of $1.46 billion in its latest quarter, up 8.6% year over year and in line with Wall Street expectations. Earnings came in at $2.95 per share, slightly ahead of projections.
The bigger picture: ResMed shares recently traded at $240.47, giving it a market capitalisation of $34.69 billion. It carries a P/E ratio of 23.06 and a beta of 0.76.
Why now? ResMed has drawn wider institutional interest, with firms including Imprint Wealth LLCDealroom has a profile for this one. Try Dealroom → and WFA of San Diego LLCDealroom has a profile for this one. Try Dealroom → among recent buyers. Institutional investors and hedge funds now own about 54.98% of the stock.
What about insiders? Director Peter C. Farrell sold 8,000 shares under a prearranged Rule 10b5-1 plan. Combined with sales by chief executive officer Michael J. Farrell, insiders divested 22,973 shares for roughly $4.89 million.
What's the payout? ResMed declared an increased quarterly dividend of $0.66 per share, an annual yield of 1.1%. Analyst sentiment stays mixed, with a consensus "Hold" rating even as some analysts recommend "Buy."
The signal: The purchase reflects steady institutional appetite for healthcare and medical-technology names. As demand for respiratory care rises, insurers watching ResMed may weigh how such advances shape underwriting and coverage.
Read more: insurasales.com
Image credit: Zdenko Zivkovic
