Aviso Financial Inc. Buys 3,017 Shares of ResMed Inc. $RMD

Aviso Financial Inc. grew its stake in ResMed Inc. (NYSE:RMD) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 201,382 shares of the medical equipment provider’s stock after purchasing an additional 3,017 shares during the quarter. ResMed makes up about 2.2% of Aviso Financial Inc.’s holdings, making the stock its 17th largest position. Aviso Financial Inc. owned approximately 0.14% of ResMed worth $55,124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new stake in ResMed in the 2nd quarter valued at $306,452,000. Vanguard Group Inc. grew its stake in shares of ResMed by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock worth $5,211,940,000 after acquiring an additional 293,515 shares in the last quarter. Ilex Capital Partners UK LLP purchased a new stake in shares of ResMed in the second quarter valued at about $39,306,000. Allianz Asset Management GmbH lifted its position in shares of ResMed by 44.8% during the third quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock valued at $97,837,000 after purchasing an additional 110,647 shares in the last quarter. Finally, Swedbank AB boosted its holdings in ResMed by 25.4% during the third quarter. Swedbank AB now owns 542,711 shares of the medical equipment provider’s stock worth $148,556,000 after purchasing an additional 109,760 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on RMD shares. Citigroup increased their price objective on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Piper Sandler increased their price target on ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Wall Street Zen upgraded ResMed from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Robert W. Baird set a $281.00 price objective on ResMed in a research note on Friday, January 30th. Finally, Weiss Ratings raised ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $299.27.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total value of $502,620.00. Following the sale, the director owned 64,773 shares of the company’s stock, valued at $16,278,102.63. The trade was a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the sale, the chief executive officer owned 466,223 shares in the company, valued at $115,837,766.58. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,082 shares of company stock valued at $4,134,807 in the last quarter. Company insiders own 0.65% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $256.34 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $254.05 and a two-hundred day simple moving average of $261.05. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81. The firm has a market cap of $37.34 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 1.70 and a beta of 0.87.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.13. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.43 earnings per share. Analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 0.9%. ResMed’s dividend payout ratio is 23.74%.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.