ResMed Inc. (NYSE:RMD) Shares Bought by Spire Wealth Management

Spire Wealth Management grew its position in shares of ResMed Inc. (NYSE:RMD) by 30,396.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,461 shares of the medical equipment provider’s stock after acquiring an additional 34,348 shares during the quarter. Spire Wealth Management’s holdings in ResMed were worth $5,946,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. lifted its holdings in ResMed by 52.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,442 shares of the medical equipment provider’s stock valued at $805,000 after acquiring an additional 1,863 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ResMed by 11.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,017 shares of the medical equipment provider’s stock valued at $7,692,000 after acquiring an additional 5,457 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in ResMed by 12.6% in the 3rd quarter. Mackenzie Financial Corp now owns 151,505 shares of the medical equipment provider’s stock valued at $21,906,000 after acquiring an additional 16,966 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in ResMed by 3.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 29,262 shares of the medical equipment provider’s stock valued at $4,327,000 after acquiring an additional 914 shares during the last quarter. Finally, Washington Capital Management Inc. acquired a new stake in ResMed during the 3rd quarter worth about $325,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD traded down $0.04 during mid-day trading on Monday, hitting $216.94. The company’s stock had a trading volume of 842,076 shares, compared to its average volume of 1,072,503. ResMed Inc. has a one year low of $132.24 and a one year high of $237.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. The firm has a market capitalization of $31.87 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The stock’s 50-day moving average is $190.52 and its two-hundred day moving average is $174.99.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.22. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. ResMed’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.68 earnings per share. As a group, sell-side analysts anticipate that ResMed Inc. will post 7.59 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be paid a $0.48 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s payout ratio is 29.49%.

Insider Activity at ResMed

In related news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the transaction, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ResMed news, Director Karen Drexler sold 425 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,641 shares of company stock worth $2,137,958. 1.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on RMD shares. KeyCorp boosted their price objective on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Royal Bank of Canada upped their target price on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. UBS Group upped their target price on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Needham & Company LLC increased their price objective on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. increased their price objective on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.80.

About ResMed

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.