Twin Capital Management Inc. Acquires 2,219 Shares of ResMed Inc. $RMD

Twin Capital Management Inc. boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 59.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,978 shares of the medical equipment provider’s stock after acquiring an additional 2,219 shares during the quarter. Twin Capital Management Inc.’s holdings in ResMed were worth $1,542,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Zions Bancorporation National Association UT purchased a new position in shares of ResMed during the first quarter worth approximately $45,000. Groupe la Francaise purchased a new stake in shares of ResMed in the first quarter valued at approximately $45,000. Harbour Investments Inc. grew its stake in ResMed by 264.2% in the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 177 shares in the last quarter. Larson Financial Group LLC increased its holdings in ResMed by 926.7% during the 1st quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock worth $69,000 after purchasing an additional 278 shares during the period. Finally, Quarry LP raised its position in ResMed by 141.1% during the 1st quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock valued at $70,000 after purchasing an additional 182 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Price Performance

NYSE RMD opened at $249.65 on Friday. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The firm’s fifty day simple moving average is $269.01 and its two-hundred day simple moving average is $261.71. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $36.43 billion, a P/E ratio of 26.25, a P/E/G ratio of 1.75 and a beta of 0.87.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 30th. The medical equipment provider reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the firm earned $2.20 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is 24.56%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RMD shares. Mizuho dropped their price target on ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. William Blair raised shares of ResMed to a “strong-buy” rating in a research note on Friday, August 1st. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. CLSA upgraded shares of ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. Finally, Wells Fargo & Company initiated coverage on shares of ResMed in a research note on Monday, October 13th. They set an “equal weight” rating and a $280.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $297.45.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $282.85, for a total transaction of $2,265,345.65. Following the completion of the transaction, the chief executive officer owned 467,792 shares in the company, valued at approximately $132,314,967.20. This trade represents a 1.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. Rider sold 100 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total value of $27,436.00. Following the completion of the transaction, the general counsel directly owned 11,327 shares of the company’s stock, valued at approximately $3,107,675.72. This trade represents a 0.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 10,684 shares of company stock worth $3,032,064 over the last three months. Company insiders own 0.65% of the company’s stock.

ResMed Profile

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.