TD Asset Management Inc Acquires 9,256 Shares of ResMed Inc. $RMD

TD Asset Management Inc increased its holdings in ResMed Inc. (NYSE:RMD) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,662 shares of the medical equipment provider’s stock after purchasing an additional 9,256 shares during the quarter. TD Asset Management Inc’s holdings in ResMed were worth $20,633,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of RMD. International Assets Investment Management LLC bought a new stake in shares of ResMed in the fourth quarter worth $25,000. ORG Partners LLC grew its stake in shares of ResMed by 181.6% in the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 69 shares during the last quarter. Imprint Wealth LLC bought a new stake in shares of ResMed in the third quarter worth $26,000. WFA of San Diego LLC bought a new stake in ResMed during the second quarter valued at $26,000. Finally, Sunbelt Securities Inc. bought a new stake in ResMed during the third quarter valued at $31,000. Institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $96,890,463.86. This trade represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,982 shares of company stock worth $2,612,700 in the last three months. Insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on RMD shares. Weiss Ratings cut shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Evercore set a $255.00 price target on shares of ResMed and gave the company an “outperform” rating in a research report on Monday, April 13th. KeyCorp cut their price target 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. Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, JPMorgan Chase & Co. started coverage on shares of ResMed in a research report on Wednesday, April 15th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $286.18.

ResMed Price Performance

RMD stock opened at $195.95 on Monday. The stock has a market capitalization of $28.42 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80. The company’s 50-day moving average is $213.11 and its 200-day moving average is $237.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.37 EPS. Equities research analysts expect that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed 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 1.2%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s dividend payout ratio is 23.14%.

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.