Twin Capital Management Inc. Increases Stock Position in ResMed Inc. $RMD

Twin Capital Management Inc. increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 59.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,978 shares of the medical equipment provider’s stock after acquiring an additional 2,219 shares during the period. Twin Capital Management Inc.’s holdings in ResMed were worth $1,542,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Zions Bancorporation National Association UT purchased a new stake in shares of ResMed in the first quarter valued at approximately $45,000. Groupe la Francaise purchased a new position in shares of ResMed during the 1st quarter valued at approximately $45,000. Harbour Investments Inc. grew its stake in ResMed by 264.2% in the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 177 shares during the period. Larson Financial Group LLC increased its holdings in ResMed by 926.7% in the 1st quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock worth $69,000 after acquiring an additional 278 shares in the last quarter. Finally, Quarry LP increased its stake in shares of ResMed by 141.1% during the first quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 182 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

ResMed stock opened at $249.65 on Friday. 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 company’s 50 day simple moving average is $269.01 and its 200-day simple moving average is $261.71. The company has a market capitalization of $36.43 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 earnings per share. As a group, equities research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed’s dividend payout ratio is presently 24.56%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RMD shares. Mizuho dropped their target price on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b-)” rating on shares of ResMed in a research note on Wednesday, October 8th. William Blair upgraded ResMed to a “strong-buy” rating in a research report on Friday, August 1st. Robert W. Baird cut their price target on ResMed from $320.00 to $300.00 and set an “outperform” rating for the company in a report on Monday. Finally, Stifel Nicolaus boosted their price objective on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $297.45.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total value of $2,265,345.65. Following the completion of the transaction, the chief executive officer owned 467,792 shares of the company’s stock, valued at $132,314,967.20. This trade represents a 1.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Michael J. Rider sold 100 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total value of $27,436.00. Following the sale, the general counsel directly owned 11,327 shares in the company, valued at $3,107,675.72. This represents a 0.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,684 shares of company stock worth $3,032,064 in the last ninety days. 0.65% of the stock is owned by corporate insiders.

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.