Cerity Partners LLC Buys 29,205 Shares of ResMed Inc. $RMD

Cerity Partners LLC raised its stake in ResMed Inc. (NYSE:RMD) by 184.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 45,071 shares of the medical equipment provider’s stock after buying an additional 29,205 shares during the period. Cerity Partners LLC’s holdings in ResMed were worth $11,628,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of ResMed during the 2nd quarter valued at $306,452,000. Swedbank AB raised its position in ResMed by 445.1% in the first quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider’s stock valued at $88,940,000 after purchasing an additional 324,428 shares during the last quarter. Nuveen LLC acquired a new stake in shares of ResMed during the first quarter valued at about $69,492,000. Vanguard Group Inc. grew its holdings in shares of ResMed by 1.4% during the second quarter. Vanguard Group Inc. now owns 18,746,925 shares of the medical equipment provider’s stock worth $4,836,707,000 after purchasing an additional 253,223 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of ResMed in the second quarter valued at approximately $34,443,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Up 2.0%

Shares of NYSE:RMD opened at $251.37 on Thursday. The company has a market capitalization of $36.69 billion, a price-to-earnings ratio of 25.73, a P/E/G ratio of 1.67 and a beta of 0.87. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13. The business’s 50-day moving average is $258.10 and its 200-day moving average is $263.69.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the business earned $2.20 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s payout ratio is presently 24.56%.

Insider Activity at ResMed

In related news, Director Witte Jan De sold 2,055 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total value of $524,025.00. Following the transaction, the director owned 4,261 shares in the company, valued at approximately $1,086,555. This represents a 32.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. Rider sold 100 shares of ResMed stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the transaction, the general counsel owned 11,327 shares of the company’s stock, valued at $3,107,675.72. The trade was a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 22,662 shares of company stock worth $5,946,466. Insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley set a $305.00 target price on shares of ResMed in a research report on Friday, October 31st. Wells Fargo & Company started coverage on shares of ResMed in a research note on Monday, October 13th. They set an “equal weight” rating and a $280.00 price target for the company. Citigroup assumed coverage on shares of ResMed in a report on Thursday, September 18th. They set a “buy” rating and a $330.00 price target on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of ResMed in a research note on Monday. Finally, KeyCorp raised their target price on ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $297.45.

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.