Mackay Shields LLC Acquires 9,111 Shares of ResMed Inc. (NYSE:RMD)

Mackay Shields LLC raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 41.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 30,857 shares of the medical equipment provider’s stock after acquiring an additional 9,111 shares during the period. Mackay Shields LLC’s holdings in ResMed were worth $4,169,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RMD. Invesco Ltd. raised its position in shares of ResMed by 208.2% during the 2nd quarter. Invesco Ltd. now owns 1,955,124 shares of the medical equipment provider’s stock valued at $238,584,000 after acquiring an additional 1,320,770 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of ResMed by 13,733.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 542,824 shares of the medical equipment provider’s stock valued at $66,241,000 after acquiring an additional 538,900 shares during the last quarter. WCM Investment Management LLC grew its holdings in shares of ResMed by 6.2% in the 3rd quarter. WCM Investment Management LLC now owns 7,666,764 shares of the medical equipment provider’s stock valued at $1,035,857,000 after buying an additional 450,954 shares during the period. Amundi Pioneer Asset Management Inc. grew its holdings in shares of ResMed by 66.9% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 773,844 shares of the medical equipment provider’s stock valued at $94,433,000 after buying an additional 310,273 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of ResMed by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 15,327,232 shares of the medical equipment provider’s stock valued at $1,870,382,000 after buying an additional 212,459 shares during the period. Institutional investors own 66.45% of the company’s stock.

Several brokerages have recently issued reports on RMD. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th. ValuEngine cut shares of ResMed from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. UBS Group raised shares of ResMed from a “neutral” rating to a “buy” rating and upped their target price for the company from $122.00 to $140.00 in a report on Monday, July 29th. Finally, Goldman Sachs Group raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $121.50.

Shares of RMD stock traded up $1.67 on Friday, reaching $143.85. The stock had a trading volume of 371,556 shares, compared to its average volume of 738,537. The company has a quick ratio of 1.46, a current ratio of 2.11 and a debt-to-equity ratio of 0.60. The firm’s 50-day moving average is $135.96 and its two-hundred day moving average is $125.98. The firm has a market capitalization of $20.76 billion, a price-to-earnings ratio of 39.52, a P/E/G ratio of 2.76 and a beta of 0.41. ResMed Inc. has a 12 month low of $90.64 and a 12 month high of $149.96.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.06. The company had revenue of $681.06 million for the quarter, compared to analysts’ expectations of $660.87 million. ResMed had a net margin of 15.52% and a return on equity of 26.72%. ResMed’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 EPS. On average, sell-side analysts forecast that ResMed Inc. will post 4.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.08%. ResMed’s payout ratio is 42.86%.

In other ResMed news, Director Ronald R. Taylor sold 4,429 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $136.34, for a total value of $603,849.86. Following the transaction, the director now directly owns 19,855 shares of the company’s stock, valued at approximately $2,707,030.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 6,651 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $132.35, for a total transaction of $880,259.85. Following the completion of the transaction, the chief executive officer now directly owns 292,988 shares in the company, valued at $38,776,961.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,112 shares of company stock worth $8,139,860. 1.22% of the stock is owned by insiders.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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