Intech Investment Management LLC Boosts Holdings in ResMed Inc. $RMD

Intech Investment Management LLC raised its stake in shares of ResMed Inc. (NYSE:RMD) by 116.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,729 shares of the medical equipment provider’s stock after purchasing an additional 36,430 shares during the period. Intech Investment Management LLC’s holdings in ResMed were worth $16,314,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RMD. Jones Financial Companies Lllp lifted its holdings in ResMed by 52.6% during the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after purchasing an additional 994 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in ResMed during the second quarter valued at $389,000. Brown Advisory Inc. lifted its holdings in ResMed by 17.8% during the second quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock valued at $409,000 after purchasing an additional 240 shares in the last quarter. Cresset Asset Management LLC purchased a new position in ResMed during the second quarter valued at $206,000. Finally, Alliancebernstein L.P. lifted its holdings in ResMed by 24.2% during the second quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock valued at $73,808,000 after purchasing an additional 55,790 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $96,890,463.86. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The SEC filing for this sale provides additional information. Insiders sold 18,973 shares of company stock valued at $4,386,031 over the last quarter. Company insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RMD. Weiss Ratings downgraded shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Royal Bank Of Canada increased their price objective on shares of ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. began coverage on shares of ResMed in a report on Wednesday, April 15th. They set an “overweight” rating on the stock. Finally, KeyCorp reduced their target price on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $286.18.

ResMed Price Performance

Shares of NYSE RMD opened at $190.58 on Friday. The firm has a 50-day simple moving average of $216.93 and a 200-day simple moving average of $239.34. The stock has a market capitalization of $27.64 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 1.30 and a beta of 0.84. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 52 week low of $190.38 and a 52 week high of $293.81.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating 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 company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.37 earnings per share. On average, equities analysts predict that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, May 14th. ResMed’s dividend payout ratio is 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.