Watchman Group Inc. Has $3.24 Million Holdings in ResMed Inc. $RMD

Watchman Group Inc. lessened its holdings in shares of ResMed Inc. (NYSE:RMD) by 3.6% in the second quarter, Holdings Channel.com reports. The fund owned 12,541 shares of the medical equipment provider’s stock after selling 470 shares during the quarter. Watchman Group Inc.’s holdings in ResMed were worth $3,236,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RMD. Vanguard Group Inc. grew its holdings in ResMed by 1.4% during the second quarter. Vanguard Group Inc. now owns 18,746,925 shares of the medical equipment provider’s stock valued at $4,836,707,000 after purchasing an additional 253,223 shares during the period. Geode Capital Management LLC raised its position in ResMed by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,215,145 shares of the medical equipment provider’s stock valued at $1,083,409,000 after buying an additional 98,717 shares during the last quarter. Northern Trust Corp lifted its position in shares of ResMed by 2.5% in the first quarter. Northern Trust Corp now owns 1,744,541 shares of the medical equipment provider’s stock worth $390,516,000 after purchasing an additional 41,951 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in ResMed by 4.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 998,128 shares of the medical equipment provider’s stock worth $223,431,000 after buying an additional 41,108 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in ResMed by 2.4% during 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 purchasing an additional 22,789 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on RMD. Stifel Nicolaus lifted their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 1st. Piper Sandler raised their price target on ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Citigroup initiated coverage on shares of ResMed in a research report on Thursday, September 18th. They set a “buy” rating and a $330.00 price objective for the company. UBS Group raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 16th. Finally, Weiss Ratings downgraded shares of ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 14th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus price target of $297.45.

ResMed Trading Down 0.4%

Shares of ResMed stock opened at $243.91 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The firm has a 50-day moving average of $263.80 and a 200-day moving average of $263.01. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The stock has a market cap of $35.60 billion, a PE ratio of 25.65, a PEG ratio of 1.75 and a beta of 0.87.

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

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s payout ratio is 24.56%.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $252.05, for a total transaction of $504,100.00. Following the transaction, the director owned 66,110 shares in the company, valued at $16,663,025.50. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Witte Jan De sold 487 shares of ResMed stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $250.25, for a total value of $121,871.75. Following the completion of the transaction, the director directly owned 5,319 shares of the company’s stock, valued at $1,331,079.75. This represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 18,607 shares of company stock worth $4,919,501. 0.65% of the stock is owned by corporate insiders.

About ResMed

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.