Northwest & Ethical Investments L.P. Decreases Position in ResMed Inc. $RMD

Northwest & Ethical Investments L.P. lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 32.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,644 shares of the medical equipment provider’s stock after selling 6,133 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in ResMed were worth $3,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of RMD. Vanguard Group Inc. increased its holdings in ResMed by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 18,746,925 shares of the medical equipment provider’s stock worth $4,836,707,000 after purchasing an additional 253,223 shares during the period. Geode Capital Management LLC grew its position in shares of ResMed by 2.4% during the second quarter. Geode Capital Management LLC now owns 4,215,145 shares of the medical equipment provider’s stock worth $1,083,409,000 after buying an additional 98,717 shares in the last quarter. Northern Trust Corp grew its position in shares of ResMed by 2.5% during the first quarter. Northern Trust Corp now owns 1,744,541 shares of the medical equipment provider’s stock worth $390,516,000 after buying an additional 41,951 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of ResMed by 2.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,021,001 shares of the medical equipment provider’s stock worth $263,418,000 after buying an additional 22,873 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in ResMed by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 977,401 shares of the medical equipment provider’s stock valued at $218,791,000 after acquiring an additional 22,789 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Performance

NYSE RMD opened at $255.23 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a market capitalization of $37.25 billion, a PE ratio of 26.84, a P/E/G ratio of 1.75 and a beta of 0.87. The company has a fifty day moving average of $262.31 and a two-hundred day moving average of $263.43.

ResMed (NYSE:RMD) last posted its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.20 earnings per share. As a group, analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed’s dividend payout ratio is presently 24.56%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Witte Jan De sold 2,055 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total transaction of $524,025.00. Following the transaction, the director directly owned 4,261 shares of the company’s stock, valued at approximately $1,086,555. This trade represents a 32.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Michael J. Rider sold 100 shares of ResMed stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the transaction, the general counsel owned 11,327 shares in the company, valued at approximately $3,107,675.72. This represents a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 20,662 shares of company stock valued at $5,443,526. 0.65% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on RMD. Stifel Nicolaus boosted their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 1st. Piper Sandler boosted their target price on shares of ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Mizuho dropped their target price on ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Royal Bank Of Canada lifted their price target on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, William Blair raised ResMed to a “strong-buy” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and an average price target of $297.45.

ResMed Company 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.