Cumberland Partners Ltd Raises Position in ResMed Inc. $RMD

Cumberland Partners Ltd increased its holdings in ResMed Inc. (NYSE:RMD) by 61.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,000 shares of the medical equipment provider’s stock after buying an additional 8,000 shares during the period. Cumberland Partners Ltd’s holdings in ResMed were worth $5,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RMD. International Assets Investment Management LLC purchased a new stake in shares of ResMed in the fourth quarter worth $25,000. WFA of San Diego LLC bought a new position in ResMed in the second quarter valued at $26,000. Imprint Wealth LLC bought a new position in ResMed in the third quarter valued at $26,000. ORG Partners LLC increased its stake in ResMed by 181.6% in the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 69 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in ResMed in the third quarter valued at $31,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 0.5%

Shares of NYSE:RMD opened at $208.04 on Friday. The stock’s 50-day moving average price is $219.73 and its 200-day moving average price is $240.92. ResMed Inc. has a 12-month low of $198.61 and a 12-month high of $293.81. The stock has a market capitalization of $30.31 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 1.33 and a beta of 0.84. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm earned $2.37 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts anticipate that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is 23.14%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Weiss Ratings cut ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Royal Bank Of Canada increased their target price on ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Stifel Nicolaus increased their target price on ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. assumed coverage on ResMed in a research note on Wednesday, April 15th. They issued an “overweight” rating on the stock. Finally, Robert W. Baird set a $225.00 target price on ResMed in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $286.18.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated 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 can be accessed through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $117,035,959.69. This represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,973 shares of company stock worth $4,386,031 over the last ninety days. Insiders own 0.65% of the company’s stock.

About ResMed

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.