ResMed Inc. (NYSE:RMD) Shares Purchased by Weaver Capital Management LLC

Weaver Capital Management LLC increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 30.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,708 shares of the medical equipment provider’s stock after purchasing an additional 636 shares during the quarter. Weaver Capital Management LLC’s holdings in ResMed were worth $619,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Peak Financial Advisors LLC acquired a new stake in shares of ResMed during the 4th quarter worth about $2,972,000. Principal Financial Group Inc. grew its position in ResMed by 2.9% in the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after acquiring an additional 5,284 shares in the last quarter. Retireful LLC acquired a new position in ResMed in the 3rd quarter valued at about $742,000. Asset Management One Co. Ltd. grew its position in ResMed by 5.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock valued at $14,369,000 after acquiring an additional 2,878 shares in the last quarter. Finally, Empowered Funds LLC grew its position in ResMed by 284.3% in the 3rd quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock valued at $2,004,000 after acquiring an additional 6,072 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Up 0.1 %

Shares of NYSE:RMD opened at $240.73 on Wednesday. The stock’s 50-day moving average price is $240.00 and its two-hundred day moving average price is $236.89. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $263.05. The firm has a market cap of $35.34 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 1.69 and a beta of 0.70.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, research analysts forecast that ResMed Inc. will post 9.41 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. ResMed’s dividend payout ratio (DPR) is 25.03%.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the sale, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,094 shares of company stock worth $2,220,721 in the last three months. 0.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RMD has been the subject of several recent research reports. The Goldman Sachs Group started coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating for the company. Royal Bank of Canada lifted their price target on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating 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. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, KeyCorp boosted their target price on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $244.73.

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.