9,858 Shares in ResMed Inc. $RMD Purchased by Marietta Investment Partners LLC

Marietta Investment Partners LLC purchased a new stake in shares of ResMed Inc. (NYSE:RMD) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 9,858 shares of the medical equipment provider’s stock, valued at approximately $2,698,000.

Other large investors have also recently made changes to their positions in the company. Entropy Technologies LP boosted its stake in shares of ResMed by 188.7% during the 2nd quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock valued at $4,227,000 after purchasing an additional 10,708 shares in the last quarter. Quantbot Technologies LP lifted its holdings in ResMed by 244.8% in the second quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock worth $9,380,000 after buying an additional 25,810 shares during the period. Allianz Asset Management GmbH lifted its holdings in ResMed by 44.8% in the third quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock worth $97,837,000 after buying an additional 110,647 shares during the period. Nordea Investment Management AB boosted its position in ResMed by 3.5% during the 3rd quarter. Nordea Investment Management AB now owns 790,872 shares of the medical equipment provider’s stock valued at $217,387,000 after acquiring an additional 26,629 shares in the last quarter. Finally, WCM Investment Management LLC bought a new stake in ResMed during the 3rd quarter valued at approximately $3,110,000. 54.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total transaction of $520,440.00. Following the sale, the director directly owned 62,773 shares of the company’s stock, valued at $16,334,790.06. This trade represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $273.78, for a total value of $1,366,435.98. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $127,642,532.94. This trade represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 16,082 shares of company stock worth $4,152,307. Corporate insiders own 0.65% of the company’s stock.

ResMed Stock Down 1.4%

NYSE:RMD opened at $255.39 on Friday. The firm has a 50-day simple moving average of $255.06 and a two-hundred day simple moving average of $260.44. The firm has a market cap of $37.21 billion, a P/E ratio of 25.26, a P/E/G ratio of 1.72 and a beta of 0.88. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06.

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

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be paid a $0.60 dividend. The ex-dividend date is Thursday, February 12th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed’s payout ratio is currently 23.74%.

Analyst Ratings Changes

A number of research analysts have recently commented on RMD shares. Weiss Ratings upgraded ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Robert W. Baird set a $281.00 price objective on ResMed in a report on Friday, January 30th. Citigroup raised their price objective on ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. KeyCorp reiterated an “overweight” rating and issued a $302.00 price target on shares of ResMed in a research note on Friday, January 30th. Finally, Stifel Nicolaus boosted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.