ResMed Inc. $RMD Stock Holdings Raised by Pacer Advisors Inc.

Pacer Advisors Inc. grew its stake in ResMed Inc. (NYSE:RMD) by 26.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 130,199 shares of the medical equipment provider’s stock after purchasing an additional 27,453 shares during the quarter. Pacer Advisors Inc. owned approximately 0.09% of ResMed worth $35,639,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. WFA of San Diego LLC acquired a new stake in ResMed during the second quarter valued at approximately $26,000. Harbour Investments Inc. increased its holdings in shares of ResMed by 264.2% in the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 177 shares during the last quarter. Virtus Advisers LLC acquired a new stake in shares of ResMed during the 2nd quarter valued at approximately $77,000. Quarry LP lifted its stake in ResMed by 141.1% during the first quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 182 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in ResMed in the second quarter worth $90,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Trading Up 0.2%

Shares of RMD stock opened at $244.90 on Friday. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The firm has a market capitalization of $35.74 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 1.65 and a beta of 0.87. The stock has a fifty day moving average of $251.28 and a two-hundred day moving average of $263.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.13 and a current ratio of 2.89.

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, beating 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 net margin of 27.35% and a return on equity of 25.45%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.20 earnings per share. As a group, research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

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

Insider Activity at ResMed

In other news, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction on Tuesday, November 25th. The stock was 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 in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $251.47, for a total value of $502,940.00. Following the completion of the sale, the director directly owned 68,773 shares in the company, valued at $17,294,346.31. This represents a 2.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 22,662 shares of company stock valued at $5,946,466. Insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RMD shares. Mizuho dropped their target price on shares of 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 increased their price objective on shares of ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c+)” rating on shares of ResMed in a research note on Monday. CLSA raised ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. Finally, Morgan Stanley set a $305.00 price objective on ResMed in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $296.09.

ResMed Company 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.