ResMed Inc. $RMD Shares Purchased by Schroder Investment Management Group

Schroder Investment Management Group boosted its position in shares of ResMed Inc. (NYSE:RMD) by 6.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 155,188 shares of the medical equipment provider’s stock after acquiring an additional 8,738 shares during the quarter. Schroder Investment Management Group’s holdings in ResMed were worth $42,064,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadcap Wealth Management LLC boosted its holdings in shares of ResMed by 2.5% in the second quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock valued at $485,000 after acquiring an additional 45 shares during the period. NBT Bank N A NY grew its position in shares of ResMed by 22.9% during the third quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock worth $69,000 after acquiring an additional 47 shares during the last quarter. OFI Invest Asset Management increased its holdings in shares of ResMed by 10.4% in the 3rd quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock valued at $139,000 after acquiring an additional 48 shares during the period. IMA Advisory Services Inc. increased its holdings in shares of ResMed by 52.7% in the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 48 shares during the period. Finally, New Wave Wealth Advisors LLC raised its position in ResMed by 2.8% in the 3rd quarter. New Wave Wealth Advisors LLC now owns 1,899 shares of the medical equipment provider’s stock valued at $520,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD opened at $240.09 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The stock has a market capitalization of $34.98 billion, a P/E ratio of 23.75, a P/E/G ratio of 1.64 and a beta of 0.88. The company’s fifty day moving average is $255.49 and its two-hundred day moving average is $259.12. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, topping 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 the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. ResMed’s quarterly revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s dividend payout ratio is currently 23.74%.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 62,773 shares in the company, valued at approximately $16,334,790.06. The trade was a 3.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total value of $1,240,063.86. Following the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $115,837,766.58. This trade represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,073 shares of company stock valued at $5,405,198 over the last three months. 0.65% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RMD. Piper Sandler raised their price objective on shares of ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Robert W. Baird set a $281.00 target price on shares of ResMed in a report on Friday, January 30th. KeyCorp reiterated an “overweight” rating and set a $302.00 target price on shares of ResMed in a research note on Friday, January 30th. Weiss Ratings raised ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Finally, Wells Fargo & Company boosted their price target on ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $299.27.

ResMed Company 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.