ResMed Inc. $RMD Stock Position Raised by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its holdings in ResMed Inc. (NYSE:RMD) by 30.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,784 shares of the medical equipment provider’s stock after acquiring an additional 14,011 shares during the period. Fisher Asset Management LLC’s holdings in ResMed were worth $16,638,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. SJS Investment Consulting Inc. raised its position in shares of ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 86 shares during the period. WFA of San Diego LLC bought a new position in ResMed during the 2nd quarter worth $26,000. Westside Investment Management Inc. increased its position in ResMed by 100.0% in the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 66 shares during the period. GoalVest Advisory LLC acquired a new stake in ResMed in the third quarter worth $37,000. Finally, IMA Advisory Services Inc. lifted its stake in ResMed by 52.7% in the third quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 48 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

ResMed Trading Up 0.3%

ResMed stock opened at $259.18 on Thursday. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The stock has a market capitalization of $37.76 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.71 and a beta of 0.88. The firm has a 50 day simple moving average of $254.84 and a 200-day simple moving average of $260.47.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.68 by $0.13. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.43 earnings per share. As a group, equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Stifel Nicolaus upped their target price on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Wall Street Zen raised ResMed from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Wells Fargo & Company boosted their price objective on ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Finally, KeyCorp restated an “overweight” rating and issued a $302.00 target price on shares of ResMed in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $299.27.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total transaction of $502,620.00. Following the completion of the transaction, the director owned 64,773 shares in the company, valued at approximately $16,278,102.63. This trade represents a 3.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $115,837,766.58. This represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,082 shares of company stock valued at $3,631,867 in the last ninety days. Company insiders own 0.65% of the company’s stock.

ResMed 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.