ResMed Inc. $RMD Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its position in shares of ResMed Inc. (NYSE:RMD) by 10.2% during the fourth quarter, HoldingsChannel reports. The firm owned 66,972 shares of the medical equipment provider’s stock after purchasing an additional 6,188 shares during the quarter. Fisher Asset Management LLC’s holdings in ResMed were worth $16,132,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in shares of ResMed during the fourth quarter worth $25,000. ORG Partners LLC lifted its position 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 worth $26,000 after purchasing an additional 69 shares in the last quarter. Imprint Wealth LLC acquired a new position in shares of ResMed during the third quarter worth $26,000. WFA of San Diego LLC acquired a new position in shares of ResMed during the second quarter worth $26,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of ResMed during the third quarter worth $31,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Down 0.8%

RMD stock opened at $206.24 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. ResMed Inc. has a 1-year low of $198.61 and a 1-year high of $293.81. The firm has a fifty day moving average price of $218.28 and a two-hundred day moving average price of $240.03. The firm has a market cap of $29.92 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 1.33 and a beta of 0.84.

ResMed (NYSE:RMD) last released its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the firm earned $2.37 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts predict that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, May 14th. This represents a $2.40 annualized dividend and a yield of 1.2%. ResMed’s payout ratio is presently 23.14%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $96,890,463.86. The trade was a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 18,973 shares of company stock valued at $4,386,031. 0.65% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RMD. Wells Fargo & Company cut their price target on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Piper Sandler upped their price target on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Weiss Ratings cut shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Citigroup cut their price target on shares of ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Finally, Robert W. Baird set a $225.00 price target on shares of ResMed in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.18.

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.