ResMed Inc. (NYSE:RMD) Shares Acquired by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. raised its stake in ResMed Inc. (NYSE:RMD) by 3.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 76,554 shares of the medical equipment provider’s stock after purchasing an additional 2,394 shares during the quarter. Mawer Investment Management Ltd. owned 0.05% of ResMed worth $18,688,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Sei Investments Co. raised its holdings in ResMed by 12.9% during the first quarter. Sei Investments Co. now owns 21,708 shares of the medical equipment provider’s stock worth $4,299,000 after purchasing an additional 2,484 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in ResMed during the first quarter valued at about $245,000. O Shaughnessy Asset Management LLC grew its position in ResMed by 24.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 7,342 shares of the medical equipment provider’s stock valued at $1,454,000 after acquiring an additional 1,436 shares during the period. UniSuper Management Pty Ltd grew its position in ResMed by 9.8% during the first quarter. UniSuper Management Pty Ltd now owns 59,100 shares of the medical equipment provider’s stock valued at $11,704,000 after acquiring an additional 5,271 shares during the period. Finally, Bessemer Group Inc. grew its position in ResMed by 14.7% during the first quarter. Bessemer Group Inc. now owns 1,725 shares of the medical equipment provider’s stock valued at $342,000 after acquiring an additional 221 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RMD shares. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. KeyCorp upped their price objective on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Bank of America upped their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Baird R W upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.70.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total value of $497,480.00. Following the transaction, the director now owns 83,204 shares of the company’s stock, valued at $20,696,162.96. This represents a 2.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Witte Jan De sold 796 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. The trade was a 10.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,056 shares of company stock valued at $15,086,020. Corporate insiders own 0.71% of the company’s stock.

ResMed Price Performance

NYSE:RMD traded up $1.02 on Monday, hitting $235.76. The company had a trading volume of 16,099 shares, compared to its average volume of 1,044,527. The stock has a market capitalization of $34.61 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.71 and a beta of 0.69. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $242.83 and a two-hundred day moving average of $223.67. ResMed Inc. has a 52 week low of $148.03 and a 52 week high of $260.49.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. ResMed’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 earnings per share. On average, research analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s payout ratio is 28.08%.

ResMed 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.