ResMed Inc. (NYSE:RMD) Holdings Boosted by EP Wealth Advisors LLC

EP Wealth Advisors LLC boosted its holdings in ResMed Inc. (NYSE:RMD) by 4.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,417 shares of the medical equipment provider’s stock after acquiring an additional 96 shares during the period. EP Wealth Advisors LLC’s holdings in ResMed were worth $553,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of RMD. Invesco Ltd. lifted its holdings in ResMed by 32.2% in the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock worth $531,706,000 after acquiring an additional 566,046 shares during the last quarter. Norges Bank bought a new position in ResMed in the fourth quarter worth about $118,605,000. Captrust Financial Advisors increased its stake in shares of ResMed by 813.4% in the fourth quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider’s stock valued at $101,387,000 after purchasing an additional 394,803 shares during the period. AQR Capital Management LLC increased its stake in shares of ResMed by 133.6% in the fourth quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider’s stock valued at $142,944,000 after purchasing an additional 357,466 shares during the period. Finally, BLI Banque de Luxembourg Investments acquired a new stake in shares of ResMed in the fourth quarter valued at approximately $74,793,000. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RMD shares. KeyCorp set a $274.00 price target on shares of ResMed in a research note on Thursday, April 24th. Royal Bank of Canada raised their price target on shares of ResMed from $247.00 to $255.00 and gave the company a “sector perform” rating in a research note on Thursday, April 24th. Stifel Nicolaus dropped their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. UBS Group dropped their price target on shares of ResMed from $290.00 to $285.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $258.83.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total transaction of $455,420.00. Following the completion of the sale, the director now directly owns 75,218 shares in the company, valued at approximately $17,127,890.78. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the sale, the insider now owns 9,725 shares of the company’s stock, valued at $2,289,265. The trade was a 48.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,949 shares of company stock worth $11,335,320. Corporate insiders own 0.71% of the company’s stock.

ResMed Price Performance

NYSE RMD opened at $245.12 on Monday. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The firm has a market capitalization of $35.94 billion, a PE ratio of 28.94, a P/E/G ratio of 1.53 and a beta of 0.78. The company’s 50 day simple moving average is $223.37 and its 200 day simple moving average is $234.04.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.01. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the business earned $2.13 earnings per share. As a group, equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed’s payout ratio is 23.79%.

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.