Westpac Banking Corp Acquires 21,325 Shares of ResMed Inc. $RMD

Westpac Banking Corp lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 1,762.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 22,535 shares of the medical equipment provider’s stock after purchasing an additional 21,325 shares during the quarter. Westpac Banking Corp’s holdings in ResMed were worth $5,428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in RMD. Landscape Capital Management L.L.C. lifted its holdings in ResMed by 123.2% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 49,017 shares of the medical equipment provider’s stock worth $13,417,000 after purchasing an additional 27,060 shares during the last quarter. Nordea Investment Management AB lifted its holdings in ResMed by 37.2% during the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock worth $262,027,000 after purchasing an additional 294,124 shares during the last quarter. WCM Investment Management LLC acquired a new stake in ResMed during the 3rd quarter worth approximately $3,110,000. Russell Investments Group Ltd. lifted its holdings in ResMed by 20.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 112,755 shares of the medical equipment provider’s stock worth $30,847,000 after purchasing an additional 18,966 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in ResMed by 44.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock worth $97,837,000 after purchasing an additional 110,647 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Performance

NYSE:RMD opened at $183.01 on Wednesday. The stock has a fifty day moving average price of $216.11 and a 200-day moving average price of $238.80. The company has a market cap of $26.55 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.19 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $293.81.

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

ResMed Dividend Announcement

The business 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 dividend of $0.60 per share. 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 presently 23.14%.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $207.82, for a total value of $1,037,229.62. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $96,890,463.86. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 16,973 shares of company stock valued at $3,865,591. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RMD shares. KeyCorp dropped their price target on ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a report on Monday, April 27th. JPMorgan Chase & Co. started coverage on ResMed in a report on Wednesday, April 15th. They set an “overweight” rating for the company. Evercore set a $255.00 price target on ResMed and gave the stock an “outperform” rating in a report on Monday, April 13th. Robert W. Baird set a $225.00 price target on ResMed in a report on Friday, May 1st. Finally, Royal Bank Of Canada lifted their price target on ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $286.18.

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.