Fisher Asset Management LLC Has $3.87 Million Stock Position in ResMed Inc. (NYSE:RMD)

Fisher Asset Management LLC lifted its stake in ResMed Inc. (NYSE:RMD) by 16.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,482 shares of the medical equipment provider’s stock after buying an additional 3,110 shares during the period. Fisher Asset Management LLC’s holdings in ResMed were worth $3,867,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RMD. EverSource Wealth Advisors LLC boosted its stake in shares of ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Planned Solutions Inc. acquired a new stake in shares of ResMed during the fourth quarter worth approximately $34,000. MV Capital Management Inc. raised its stake in shares of ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 60 shares during the last quarter. Operose Advisors LLC acquired a new position in shares of ResMed in the 3rd quarter worth approximately $32,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of ResMed in the 4th quarter worth approximately $45,000. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 0.4 %

NYSE RMD opened at $216.16 on Wednesday. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $237.26. The stock has a 50-day simple moving average of $191.90 and a 200 day simple moving average of $176.02. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $31.76 billion, a PE ratio of 33.20, a P/E/G ratio of 2.68 and a beta of 0.64.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business posted $1.68 EPS. ResMed’s revenue was up 7.2% on a year-over-year basis. Research analysts forecast that ResMed Inc. will post 7.59 EPS for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be given a dividend of $0.48 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s dividend payout ratio is 29.49%.

Analyst Ratings Changes

Several analysts have recently commented on the company. KeyCorp increased their target price on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Oppenheimer dropped their target price on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Needham & Company LLC raised their price target on shares of ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a report on Friday, April 26th. UBS Group upped their price objective on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada lifted their target price on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $202.80.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Karen Drexler sold 425 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares of the company’s stock, valued at approximately $1,815,214.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders sold 11,641 shares of company stock valued at $2,137,958 in the last quarter. Company insiders own 1.21% of the company’s stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.