Life Cycle Investment Partners Ltd Makes New Investment in ResMed Inc. $RMD

Life Cycle Investment Partners Ltd acquired a new position in ResMed Inc. (NYSE:RMD) in the 4th quarter, Holdings Channel reports. The firm acquired 129,653 shares of the medical equipment provider’s stock, valued at approximately $31,230,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Buckhead Capital Management LLC raised its holdings in ResMed by 1.3% in the 4th quarter. Buckhead Capital Management LLC now owns 11,327 shares of the medical equipment provider’s stock worth $2,728,000 after purchasing an additional 141 shares in the last quarter. MQS Management LLC bought a new position in ResMed in the 4th quarter worth $347,000. Cumberland Partners Ltd raised its holdings in ResMed by 61.5% in the 4th quarter. Cumberland Partners Ltd now owns 21,000 shares of the medical equipment provider’s stock worth $5,058,000 after purchasing an additional 8,000 shares in the last quarter. Global Retirement Partners LLC raised its holdings in ResMed by 66.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,472 shares of the medical equipment provider’s stock worth $355,000 after purchasing an additional 585 shares in the last quarter. Finally, Mach 1 Financial Group LLC bought a new position in ResMed in the 4th quarter worth $580,000. 54.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on RMD. Evercore set a $255.00 price objective on shares of ResMed and gave the stock an “outperform” rating in a report on Monday, April 13th. Wells Fargo & Company decreased their price objective on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Robert W. Baird set a $225.00 price objective on shares of ResMed in a report on Friday, May 1st. Weiss Ratings lowered shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. Finally, JPMorgan Chase & Co. began coverage on shares of ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating for the company. One research 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $286.18.

ResMed Stock Down 0.5%

Shares of ResMed stock opened at $208.04 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The company has a 50-day moving average of $219.73 and a 200 day moving average of $240.92. The firm has a market cap of $30.31 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 1.33 and a beta of 0.84. ResMed Inc. has a 1 year low of $198.61 and a 1 year high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.07. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. ResMed’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $2.37 EPS. As a group, sell-side analysts anticipate that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Dividend Announcement

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

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $251.03, for a total value of $1,252,890.73. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $117,035,959.69. This trade represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 18,973 shares of company stock valued at $4,386,031. 0.65% of the stock is owned by company insiders.

ResMed 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.