Rhumbline Advisers Purchases 11,696 Shares of ResMed Inc. $RMD

Rhumbline Advisers raised its position in shares of ResMed Inc. (NYSE:RMD) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 318,937 shares of the medical equipment provider’s stock after buying an additional 11,696 shares during the period. Rhumbline Advisers’ holdings in ResMed were worth $87,302,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RMD. SJS Investment Consulting Inc. raised its stake in shares of ResMed by 1,433.3% during the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 86 shares during the last quarter. WFA of San Diego LLC bought a new stake in shares of ResMed in the second quarter worth about $26,000. Westside Investment Management Inc. increased its holdings in ResMed by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 66 shares during the period. GoalVest Advisory LLC purchased a new position in ResMed during the 3rd quarter valued at about $37,000. Finally, Winnow Wealth LLC bought a new position in ResMed during the 3rd quarter valued at approximately $54,000. Institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s 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 sale, the director directly owned 64,773 shares of the company’s stock, valued at $16,278,102.63. The trade was a 3.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 466,223 shares in the company, valued at $127,642,532.94. The trade was a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,137 shares of company stock valued at $4,658,832 over the last quarter. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RMD shares. Royal Bank Of Canada lifted their price objective on ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Piper Sandler raised their price target on ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Mizuho cut their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. KeyCorp reissued an “overweight” rating and set a $302.00 price objective on shares of ResMed in a research report on Friday, January 30th. Finally, UBS Group reaffirmed a “buy” rating and issued a $345.00 target price on shares of ResMed in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $299.27.

ResMed Price Performance

Shares of RMD stock opened at $245.93 on Friday. The stock has a market cap of $35.83 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.72 and a beta of 0.87. The business’s fifty day moving average is $252.63 and its 200 day moving average is $263.09. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. 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 (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the firm posted $2.43 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

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

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.