Motley Fool Asset Management LLC Acquires 3,375 Shares of ResMed Inc. $RMD

Motley Fool Asset Management LLC increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 28.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,179 shares of the medical equipment provider’s stock after purchasing an additional 3,375 shares during the period. Motley Fool Asset Management LLC’s holdings in ResMed were worth $3,656,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RMD. International Assets Investment Management LLC bought a new position in shares of ResMed during the fourth quarter valued at approximately $25,000. ORG Partners LLC boosted its stake in shares of ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 69 shares in the last quarter. Imprint Wealth LLC bought a new position in shares of ResMed during the third quarter valued at approximately $26,000. WFA of San Diego LLC bought a new position in shares of ResMed during the second quarter valued at approximately $26,000. Finally, Sunbelt Securities Inc. bought a new position in shares of ResMed during the third quarter valued at approximately $31,000. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of ResMed in a research note on Wednesday, April 15th. They set an “overweight” rating on the stock. Royal Bank Of Canada raised their target price on shares of ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. KeyCorp lowered their target price on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Weiss Ratings downgraded shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Finally, Citigroup lowered their target price on shares of ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $286.18.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $193.96, for a total transaction of $968,054.36. Following the completion of the transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at approximately $90,435,013.76. This represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 16,973 shares of company stock valued at $3,580,754. Corporate insiders own 0.65% of the company’s stock.

ResMed Price Performance

Shares of RMD opened at $193.78 on Thursday. The company has a market cap of $28.11 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $293.81. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $211.53 and a two-hundred day moving average of $236.09.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $2.37 earnings per share. As a group, analysts predict that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. ResMed’s dividend payout ratio (DPR) is currently 23.14%.

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.