WCM Investment Management LLC Makes New Investment in ResMed Inc. $RMD

WCM Investment Management LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,474 shares of the medical equipment provider’s stock, valued at approximately $3,110,000.

A number of other institutional investors have also made changes to their positions in RMD. Vanguard Group Inc. grew its position in ResMed by 1.4% in the second quarter. Vanguard Group Inc. now owns 18,746,925 shares of the medical equipment provider’s stock valued at $4,836,707,000 after purchasing an additional 253,223 shares in the last quarter. State Street Corp boosted its stake in shares of ResMed by 1.0% during the 2nd quarter. State Street Corp now owns 6,615,852 shares of the medical equipment provider’s stock worth $1,706,890,000 after buying an additional 64,448 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of ResMed by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,215,145 shares of the medical equipment provider’s stock valued at $1,083,409,000 after acquiring an additional 98,717 shares in the last quarter. Norges Bank acquired a new position in ResMed during the second quarter valued at approximately $306,452,000. Finally, Charles Schwab Investment Management Inc. grew its stake in ResMed by 2.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,021,001 shares of the medical equipment provider’s stock valued at $263,418,000 after purchasing an additional 22,873 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Activity at ResMed

In other ResMed news, Director Witte Jan De sold 2,055 shares of the stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $248.83, for a total value of $497,660.00. Following the sale, the director directly owned 66,773 shares of the company’s stock, valued at $16,615,125.59. This represents a 2.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 21,594 shares of company stock worth $5,403,495 in the last ninety days. 0.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RMD. Wells Fargo & Company upped their price objective on ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Stifel Nicolaus boosted their target price on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a report on Friday. Royal Bank Of Canada upped their price target on shares of ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley set a $305.00 price objective on shares of ResMed in a research report on Friday, October 31st. Finally, Citigroup boosted their price objective on shares of ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $299.27.

ResMed Stock Performance

NYSE RMD opened at $251.33 on Wednesday. The stock has a market cap of $36.61 billion, a PE ratio of 24.86, a P/E/G ratio of 1.69 and a beta of 0.87. 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 firm has a 50-day moving average of $251.03 and a 200-day moving average of $263.31. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81.

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

ResMed Announces Dividend

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 paid a $0.60 dividend. The ex-dividend date is Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 1.0%. ResMed’s payout ratio is 23.74%.

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.