ResMed Inc. (NYSE:RMD) Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its position in ResMed Inc. (NYSE:RMD) by 6.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,727 shares of the medical equipment provider’s stock after acquiring an additional 1,563 shares during the quarter. Fisher Asset Management LLC’s holdings in ResMed were worth $6,525,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after acquiring an additional 1,959,642 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in ResMed by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock valued at $225,578,000 after purchasing an additional 13,985 shares during the period. Los Angeles Capital Management LLC boosted its position in ResMed by 48.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after purchasing an additional 241,195 shares during the period. Greenvale Capital LLP boosted its position in ResMed by 61.1% during the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after purchasing an additional 275,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in ResMed by 19.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock valued at $126,670,000 after purchasing an additional 107,279 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of analyst reports. KeyCorp boosted their price objective on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Bank of America boosted their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wolfe Research restated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Royal Bank of Canada boosted their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, Robert W. Baird boosted their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $225.70.

ResMed Stock Down 0.3 %

Shares of ResMed stock opened at $249.33 on Friday. The stock’s fifty day moving average is $242.15 and its 200-day moving average is $225.38. The firm has a market capitalization of $36.60 billion, a PE ratio of 33.02, a price-to-earnings-growth ratio of 1.82 and a beta of 0.69. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12-month low of $151.95 and a 12-month high of $260.49.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.64 earnings per share. Equities analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the sale, the director now directly owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. This represents a 2.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,334 shares of company stock valued at $16,379,713 over the last three months. Company insiders own 0.71% 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.