ResMed Inc. (NYSE:RMD) Stock Position Raised by Toronto Dominion Bank

Toronto Dominion Bank grew its position in shares of ResMed Inc. (NYSE:RMD) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,349 shares of the medical equipment provider’s stock after buying an additional 2,099 shares during the quarter. Toronto Dominion Bank’s holdings in ResMed were worth $11,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. First Horizon Advisors Inc. lifted its stake in ResMed by 285.1% in the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after acquiring an additional 439 shares during the last quarter. Spire Wealth Management raised its holdings in shares of ResMed by 11.3% during the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock valued at $2,470,000 after purchasing an additional 1,100 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of ResMed by 2.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock valued at $14,105,000 after purchasing an additional 1,629 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in ResMed by 38.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,830 shares of the medical equipment provider’s stock worth $2,989,000 after purchasing an additional 3,576 shares in the last quarter. Finally, Cumberland Partners Ltd increased its position in ResMed by 550.0% during the fourth quarter. Cumberland Partners Ltd now owns 13,000 shares of the medical equipment provider’s stock worth $2,973,000 after buying an additional 11,000 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 2.0%

Shares of ResMed stock opened at $248.16 on Wednesday. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05. The company’s fifty day simple moving average is $226.57 and its 200-day simple moving average is $234.27. The company has a market cap of $36.39 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 1.53 and a beta of 0.78. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the business posted $2.13 EPS. As a group, sell-side analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed’s dividend payout ratio (DPR) is presently 23.79%.

Analyst Ratings Changes

A number of brokerages have weighed in on RMD. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd. Morgan Stanley began coverage on ResMed in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price objective on the stock. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. KeyCorp set a $274.00 price target on ResMed in a report on Thursday, April 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $258.83.

Insider Activity at ResMed

In other news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the transaction, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. This represents a 48.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total transaction of $455,420.00. Following the transaction, the director now directly owns 75,218 shares of the company’s stock, valued at $17,127,890.78. The trade was a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,949 shares of company stock worth $11,335,320 over the last three months. Company insiders own 0.71% of the company’s stock.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.