Mawer Investment Management Ltd. Raises Stake in ResMed Inc. (NYSE:RMD)

Mawer Investment Management Ltd. lifted its position in shares of ResMed Inc. (NYSE:RMD) by 14.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 87,443 shares of the medical equipment provider’s stock after buying an additional 10,889 shares during the period. Mawer Investment Management Ltd.’s holdings in ResMed were worth $19,997,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RMD. Thrivent Financial for Lutherans boosted its holdings in shares of ResMed by 12.2% during the third quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock worth $1,697,000 after purchasing an additional 755 shares during the last quarter. Intech Investment Management LLC purchased a new position in ResMed during the third quarter worth about $244,000. Cerity Partners LLC lifted its position in ResMed by 82.0% during the third quarter. Cerity Partners LLC now owns 13,686 shares of the medical equipment provider’s stock worth $3,341,000 after buying an additional 6,167 shares during the period. The Manufacturers Life Insurance Company boosted its stake in ResMed by 0.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 88,469 shares of the medical equipment provider’s stock worth $21,593,000 after buying an additional 240 shares during the last quarter. Finally, D.A. Davidson & CO. purchased a new stake in ResMed in the 3rd quarter valued at about $229,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Down 1.2 %

NYSE:RMD opened at $219.85 on Friday. ResMed Inc. has a one year low of $172.19 and a one year high of $263.05. The business’s 50-day simple moving average is $233.70 and its 200 day simple moving average is $238.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock has a market cap of $32.29 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, sell-side analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RMD. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, March 25th. Morgan Stanley assumed coverage on shares of ResMed in a report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, Piper Sandler upped their price target on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $249.73.

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.