Intech Investment Management LLC Has $8.57 Million Holdings in ResMed Inc. $RMD

Intech Investment Management LLC lifted its holdings in ResMed Inc. (NYSE:RMD) by 40.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,299 shares of the medical equipment provider’s stock after purchasing an additional 9,083 shares during the quarter. Intech Investment Management LLC’s holdings in ResMed were worth $8,567,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. boosted its stake in shares of ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 86 shares during the last quarter. WFA of San Diego LLC acquired a new stake in shares of ResMed in the second quarter valued at about $26,000. Westside Investment Management Inc. increased its position in shares of ResMed by 100.0% in 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 last quarter. GoalVest Advisory LLC bought a new stake in ResMed during the third quarter worth about $37,000. Finally, IMA Advisory Services Inc. boosted its position in ResMed by 52.7% during the third quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 48 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ResMed

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 transaction of $502,620.00. Following the completion of the sale, the director owned 64,773 shares in the company, valued at $16,278,102.63. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the 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 transaction, the chief executive officer owned 466,223 shares in the company, 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. Insiders have sold 16,082 shares of company stock valued at $4,134,807 over the last 90 days. Company insiders own 0.65% of the company’s stock.

ResMed Trading Down 0.3%

RMD stock opened at $256.34 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The company has a fifty day moving average price of $254.05 and a two-hundred day moving average price of $261.21. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The stock has a market cap of $37.34 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 1.71 and a beta of 0.87.

ResMed (NYSE:RMD) last issued its quarterly earnings data 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. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.43 earnings per share. Equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have weighed in on RMD. Stifel Nicolaus boosted their price target on ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Piper Sandler raised their target price on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Morgan Stanley set a $305.00 price target on shares of ResMed in a research report on Friday, October 31st. Wall Street Zen upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Citigroup lifted their price objective on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $299.27.

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.