Nicollet Investment Management Inc. Grows Stock Position in ResMed Inc. (NYSE:RMD)

Nicollet Investment Management Inc. increased its holdings in ResMed Inc. (NYSE:RMD) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,348 shares of the medical equipment provider’s stock after buying an additional 54 shares during the quarter. ResMed accounts for about 2.4% of Nicollet Investment Management Inc.’s investment portfolio, making the stock its 11th largest position. Nicollet Investment Management Inc.’s holdings in ResMed were worth $6,920,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its stake in shares of ResMed by 1.9% during the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after acquiring an additional 47 shares during the period. Dorsey & Whitney Trust CO LLC boosted its position in shares of ResMed by 3.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock worth $292,000 after purchasing an additional 52 shares during the period. QRG Capital Management Inc. increased its stake in shares of ResMed by 4.5% in the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock worth $247,000 after purchasing an additional 56 shares in the last quarter. Inspire Advisors LLC raised its position in shares of ResMed by 1.9% during the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock valued at $586,000 after purchasing an additional 56 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of ResMed by 3.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after buying an additional 57 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Activity at ResMed

In other news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares in the company, valued at approximately $5,502,777.28. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Witte Jan De sold 796 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the sale, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 63,056 shares of company stock worth $15,086,020 in the last 90 days. 0.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Baird R W raised shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Royal Bank of Canada boosted their target price on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and an average target price of $225.70.

ResMed Stock Up 1.4 %

Shares of NYSE RMD opened at $234.77 on Friday. The company has a market cap of $34.46 billion, a P/E ratio of 31.10, a PEG ratio of 1.71 and a beta of 0.69. The firm has a 50-day simple moving average of $242.83 and a two-hundred day simple moving average of $223.55. ResMed Inc. has a 1 year low of $147.39 and a 1 year high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91.

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

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio is presently 28.08%.

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.