ResMed Inc. $RMD Position Boosted by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 26.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,199 shares of the medical equipment provider’s stock after purchasing an additional 27,453 shares during the period. Pacer Advisors Inc.’s holdings in ResMed were worth $35,639,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in RMD. WFA of San Diego LLC bought a new position in shares of ResMed in the second quarter valued at $26,000. Harbour Investments Inc. grew its holdings in shares of ResMed by 264.2% in the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 177 shares during the last quarter. Virtus Advisers LLC acquired a new stake in shares of ResMed during the second quarter worth $77,000. Quarry LP lifted its holdings in shares of ResMed by 141.1% during the first quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock valued at $70,000 after purchasing an additional 182 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of ResMed during the second quarter valued at $90,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $251.47, for a total transaction of $502,940.00. Following the transaction, the director owned 68,773 shares in the company, valued at approximately $17,294,346.31. This trade represents a 2.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. Rider sold 100 shares of the company’s stock in a transaction on 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 sale, the general counsel owned 11,327 shares of the company’s stock, valued at $3,107,675.72. This represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 22,662 shares of company stock worth $5,946,466. Company insiders own 0.65% of the company’s stock.

ResMed Trading Up 0.2%

ResMed stock opened at $244.90 on Friday. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07. The stock has a market cap of $35.74 billion, a P/E ratio of 25.07, a P/E/G ratio of 1.65 and a beta of 0.87. The company’s fifty day simple moving average is $251.28 and its 200-day simple moving average is $263.56.

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

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, November 13th. ResMed’s payout ratio is currently 24.56%.

Analyst Ratings Changes

Several research firms have issued reports on RMD. UBS Group restated a “buy” rating and set a $345.00 price objective on shares of ResMed in a report on Friday, December 12th. CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. Baird R W downgraded shares of ResMed from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Robert W. Baird reiterated a “neutral” rating and set a $275.00 price objective (down from $300.00) on shares of ResMed in a research report on Tuesday, December 16th. Finally, Mizuho reduced their target price on ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $296.09.

About ResMed

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.