Intech Investment Management LLC Acquires 9,083 Shares of ResMed Inc. $RMD

Intech Investment Management LLC boosted its holdings in ResMed Inc. (NYSE:RMD) by 40.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,299 shares of the medical equipment provider’s stock after purchasing an additional 9,083 shares during the quarter. Intech Investment Management LLC’s holdings in ResMed were worth $8,567,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of ResMed during the second quarter worth approximately $306,452,000. Vanguard Group Inc. increased its stake in ResMed by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock worth $5,211,940,000 after acquiring an additional 293,515 shares during the period. Ilex Capital Partners UK LLP acquired a new position in ResMed in the 2nd quarter valued at $39,306,000. Allianz Asset Management GmbH lifted its position in shares of ResMed by 44.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock valued at $97,837,000 after acquiring an additional 110,647 shares during the period. Finally, Swedbank AB lifted its position in shares of ResMed by 25.4% during the 3rd quarter. Swedbank AB now owns 542,711 shares of the medical equipment provider’s stock valued at $148,556,000 after acquiring an additional 109,760 shares during the period. Institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total value of $502,620.00. Following the completion of the transaction, the director owned 64,773 shares of the company’s stock, valued at $16,278,102.63. This represents a 3.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total value of $1,240,063.86. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $115,837,766.58. The trade was a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,082 shares of company stock valued at $4,134,807 over the last quarter. 0.65% of the stock is owned by corporate insiders.

ResMed Stock Down 0.3%

RMD stock opened at $256.34 on Friday. The firm has a 50-day moving average price of $254.05 and a 200-day moving average price of $261.21. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $37.34 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 1.71 and a beta of 0.87.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.43 EPS. As a group, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, February 12th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed’s dividend payout ratio is 23.74%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RMD shares. Morgan Stanley set a $305.00 price target on ResMed in a research report on Friday, October 31st. Citigroup raised their target price on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a report on Monday, February 2nd. KeyCorp reaffirmed an “overweight” rating and set a $302.00 price target on shares of ResMed in a report on Friday, January 30th. Stifel Nicolaus increased their price target on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Finally, Piper Sandler boosted their price objective on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $299.27.

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.