ResMed Inc. $RMD Stake Boosted by Mirabella Financial Services LLP

Mirabella Financial Services LLP lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 203.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,302 shares of the medical equipment provider’s stock after purchasing an additional 5,562 shares during the quarter. Mirabella Financial Services LLP’s holdings in ResMed were worth $2,268,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in RMD. SJS Investment Consulting Inc. boosted its position in ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 86 shares during the period. Imprint Wealth LLC acquired a new stake in ResMed in the third quarter worth $26,000. WFA of San Diego LLC acquired a new stake in ResMed in the second quarter worth $26,000. Sunbelt Securities Inc. bought a new stake in ResMed in the third quarter valued at $31,000. Finally, Westside Investment Management Inc. boosted its holdings in shares of ResMed by 100.0% during the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 66 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 2.3%

Shares of NYSE:RMD opened at $228.15 on Thursday. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The firm has a fifty day moving average of $254.04 and a two-hundred day moving average of $257.39. The firm has a market capitalization of $33.24 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 1.55 and a beta of 0.88.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the business earned $2.43 EPS. On average, equities analysts expect 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 will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s dividend payout ratio is presently 23.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Robert W. Baird set a $281.00 price target on shares of ResMed in a research note on Friday, January 30th. Stifel Nicolaus boosted their target price on ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Citigroup upped their target price on ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Wells Fargo & Company boosted their price target on shares of ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Finally, Weiss Ratings upgraded ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $299.27.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the completion of the sale, the chief executive officer owned 466,223 shares in the company, valued at approximately $117,035,959.69. This represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $260.22, for a total value of $520,440.00. Following the transaction, the director owned 62,773 shares in the company, valued at approximately $16,334,790.06. This trade represents a 3.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,073 shares of company stock valued at $5,405,198 in the last ninety days. Insiders own 0.65% of the company’s stock.

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.