ResMed Inc. $RMD Shares Acquired by Neuberger Berman Group LLC

Neuberger Berman Group LLC boosted its position in ResMed Inc. (NYSE:RMD) by 71.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,916 shares of the medical equipment provider’s stock after purchasing an additional 22,431 shares during the period. Neuberger Berman Group LLC’s holdings in ResMed were worth $13,910,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of RMD. WFA of San Diego LLC purchased a new position in shares of ResMed in the second quarter valued at $26,000. Groupe la Francaise acquired a new stake in ResMed in the 1st quarter valued at about $45,000. Harbour Investments Inc. increased its holdings in ResMed by 264.2% during the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 177 shares in the last quarter. Quarry LP raised its position in ResMed by 141.1% during the first quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after acquiring an additional 182 shares during the last quarter. Finally, Virtus Advisers LLC purchased a new stake in shares of ResMed in the second quarter valued at about $77,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RMD has been the subject of several research reports. Citigroup started coverage on ResMed in a research report on Thursday, September 18th. They set a “buy” rating and a $330.00 price objective for the company. KeyCorp raised their price target on ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Royal Bank Of Canada upped their price objective on ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Morgan Stanley set a $305.00 price objective on ResMed in a research report on Friday, October 31st. Finally, UBS Group reissued a “buy” rating and issued a $345.00 target price on shares of ResMed in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $299.27.

ResMed Price Performance

Shares of NYSE:RMD opened at $251.96 on Friday. The company has a market cap of $36.77 billion, a P/E ratio of 25.79, a P/E/G ratio of 1.70 and a beta of 0.87. The business has a fifty day simple moving average of $257.08 and a 200-day simple moving average of $263.79. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company earned $2.20 EPS. Equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business 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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s payout ratio is presently 24.56%.

Insider Activity at ResMed

In related 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 value of $524,025.00. Following the transaction, the director directly owned 4,261 shares of the company’s stock, valued at approximately $1,086,555. This trade represents a 32.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,011 shares of ResMed stock in a transaction on Friday, November 7th. The shares were sold at an average price of $249.75, for a total value of $2,000,747.25. Following the completion of the transaction, the chief executive officer owned 467,866 shares in the company, valued at $116,849,533.50. The trade was a 1.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 22,662 shares of company stock worth $5,946,466. 0.65% of the stock is currently owned by company insiders.

ResMed Company 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.