Rhumbline Advisers Boosts Position in ResMed Inc. $RMD

Rhumbline Advisers lifted its position in ResMed Inc. (NYSE:RMD) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 318,937 shares of the medical equipment provider’s stock after buying an additional 11,696 shares during the quarter. Rhumbline Advisers owned approximately 0.22% of ResMed worth $87,302,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RMD. Entropy Technologies LP increased its holdings in shares of ResMed by 188.7% in the second quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock worth $4,227,000 after purchasing an additional 10,708 shares during the period. Quantbot Technologies LP boosted its stake in ResMed by 244.8% during the second quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock valued at $9,380,000 after buying an additional 25,810 shares during the period. Nordea Investment Management AB grew its position in ResMed by 3.5% during the third quarter. Nordea Investment Management AB now owns 790,872 shares of the medical equipment provider’s stock worth $217,387,000 after buying an additional 26,629 shares in the last quarter. Allianz Asset Management GmbH increased its stake in ResMed by 44.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock worth $97,837,000 after acquiring an additional 110,647 shares during the last quarter. Finally, Swedbank AB increased its stake in ResMed by 25.4% in the 3rd quarter. Swedbank AB now owns 542,711 shares of the medical equipment provider’s stock worth $148,556,000 after acquiring an additional 109,760 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Down 5.3%

Shares of NYSE RMD opened at $245.93 on Friday. The stock has a market capitalization of $35.83 billion, a P/E ratio of 24.33, a PEG ratio of 1.72 and a beta of 0.87. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The firm’s 50 day simple moving average is $252.63 and its two-hundred day simple moving average is $263.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the company earned $2.43 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th 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 of this dividend is Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is 23.74%.

Insider Transactions at ResMed

In related news, Director Witte Jan De sold 2,055 shares of the firm’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 transaction of $524,025.00. Following the transaction, the director directly owned 4,261 shares in the company, valued at $1,086,555. This trade represents a 32.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total value of $502,620.00. Following the completion of the transaction, the director directly owned 64,773 shares in the company, valued at $16,278,102.63. This trade represents a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 18,137 shares of company stock worth $4,658,832. Company insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Royal Bank Of Canada lifted their price target on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Citigroup raised their target price on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Stifel Nicolaus boosted their price target on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. UBS Group reissued a “buy” rating and issued a $345.00 price target on shares of ResMed in a report on Friday, December 12th. Finally, Robert W. Baird set a $281.00 price objective on shares of ResMed in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $299.27.

ResMed Profile

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.