ResMed Inc. $RMD Stake Raised by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 6.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,644 shares of the medical equipment provider’s stock after buying an additional 4,282 shares during the period. Nisa Investment Advisors LLC’s holdings in ResMed were worth $17,710,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ballentine Partners LLC raised its holdings in ResMed by 6.3% during the first quarter. Ballentine Partners LLC now owns 1,782 shares of the medical equipment provider’s stock worth $399,000 after purchasing an additional 105 shares in the last quarter. Inspire Investing LLC raised its holdings in ResMed by 29.3% during the first quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider’s stock worth $6,397,000 after purchasing an additional 6,472 shares in the last quarter. Intech Investment Management LLC raised its holdings in ResMed by 63.2% during the first quarter. Intech Investment Management LLC now owns 15,325 shares of the medical equipment provider’s stock worth $3,430,000 after purchasing an additional 5,934 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in ResMed by 8.5% during the first quarter. Goldman Sachs Group Inc. now owns 739,007 shares of the medical equipment provider’s stock worth $165,427,000 after purchasing an additional 58,155 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 worth $218,791,000 after purchasing an additional 22,789 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total transaction of $2,265,345.65. Following the transaction, the chief executive officer directly owned 467,792 shares in the company, valued at approximately $132,314,967.20. The trade was a 1.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Hernandez sold 2,575 shares of ResMed stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the transaction, the director owned 4,045 shares in the company, valued at approximately $1,161,319.50. The trade was a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,743 shares of company stock worth $5,284,514. Corporate insiders own 0.65% of the company’s stock.

ResMed Trading Down 2.0%

ResMed stock opened at $259.87 on Monday. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. 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 market cap of $37.93 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 1.79 and a beta of 0.83. The firm’s 50 day moving average price is $275.26 and its two-hundred day moving average price is $259.69.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.08. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the company posted $2.08 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, August 14th. This is a positive change from ResMed’s previous quarterly dividend of $0.53. ResMed’s dividend payout ratio is presently 25.24%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of ResMed in a report on Saturday. Citigroup began coverage on ResMed in a report on Thursday, September 18th. They set a “buy” rating and a $330.00 target price on the stock. KeyCorp lifted their price target on shares of ResMed from $274.00 to $298.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Mizuho lifted their price target on shares of ResMed from $270.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Finally, William Blair upgraded shares of ResMed to a “strong-buy” rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $295.70.

ResMed Company Profile

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.