Motley Fool Asset Management LLC Raises Stock Position in ResMed Inc. $RMD

Motley Fool Asset Management LLC increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 28.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,179 shares of the medical equipment provider’s stock after purchasing an additional 3,375 shares during the period. Motley Fool Asset Management LLC’s holdings in ResMed were worth $3,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Landscape Capital Management L.L.C. increased its holdings in ResMed by 123.2% in the third quarter. Landscape Capital Management L.L.C. now owns 49,017 shares of the medical equipment provider’s stock valued at $13,417,000 after buying an additional 27,060 shares in the last quarter. Nordea Investment Management AB increased its holdings in ResMed by 37.2% in the fourth quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after buying an additional 294,124 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in ResMed by 20.2% in the third quarter. Russell Investments Group Ltd. now owns 112,755 shares of the medical equipment provider’s stock valued at $30,847,000 after buying an additional 18,966 shares in the last quarter. Rhumbline Advisers increased its holdings in ResMed by 3.8% in the third quarter. Rhumbline Advisers now owns 318,937 shares of the medical equipment provider’s stock valued at $87,302,000 after buying an additional 11,696 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in ResMed by 40.9% in the third quarter. Intech Investment Management LLC now owns 31,299 shares of the medical equipment provider’s stock valued at $8,567,000 after buying an additional 9,083 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $193.96, for a total transaction of $968,054.36. Following the sale, the chief executive officer directly owned 466,256 shares in the company, valued at approximately $90,435,013.76. 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. Insiders sold a total of 16,973 shares of company stock worth $3,580,754 over the last three months. Insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RMD shares. Evercore set a $255.00 price objective on shares of ResMed and gave the company an “outperform” rating in a report on Monday, April 13th. Royal Bank Of Canada lifted their price objective on shares of ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Citigroup cut their price objective on shares of ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, KeyCorp dropped their target price on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. 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 stock currently has an average rating of “Moderate Buy” and an average price target of $286.18.

ResMed Stock Performance

RMD opened at $193.78 on Thursday. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $28.11 billion, a PE ratio of 18.69, a PEG ratio of 1.25 and a beta of 0.80. The firm’s 50-day moving average price is $211.53 and its 200 day moving average price is $236.09. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $293.81.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.07. The company had revenue of $1.43 billion for 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 revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.37 EPS. As a group, sell-side analysts expect that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be paid a $0.60 dividend. 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 payout ratio is 23.14%.

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.