Mackenzie Financial Corp Has $37.62 Million Stock Position in ResMed Inc. (NYSE:RMD)

Mackenzie Financial Corp decreased its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 22.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,481 shares of the medical equipment provider's stock after selling 47,952 shares during the quarter. Mackenzie Financial Corp owned about 0.11% of ResMed worth $37,615,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. First Horizon Advisors Inc. grew its position in ResMed by 285.1% during the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock valued at $136,000 after buying an additional 439 shares during the period. Spire Wealth Management grew its position in ResMed by 11.3% during the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock valued at $2,470,000 after buying an additional 1,100 shares during the period. Asset Management One Co. Ltd. grew its position in ResMed by 2.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider's stock valued at $14,105,000 after buying an additional 1,629 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in ResMed by 38.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,830 shares of the medical equipment provider's stock valued at $2,989,000 after buying an additional 3,576 shares during the period. Finally, Cumberland Partners Ltd grew its position in ResMed by 550.0% during the fourth quarter. Cumberland Partners Ltd now owns 13,000 shares of the medical equipment provider's stock valued at $2,973,000 after buying an additional 11,000 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Trading Up 0.1%

Shares of RMD traded up $0.31 during trading on Thursday, reaching $245.07. 562,833 shares of the company traded hands, compared to its average volume of 1,021,075. ResMed Inc. has a twelve month low of $179.42 and a twelve month high of $263.05. The stock has a market cap of $35.93 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. The stock has a 50-day simple moving average of $229.30 and a 200-day simple moving average of $234.25. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The business had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same period last year, the business earned $2.13 earnings per share. The business's revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is currently 23.79%.

Analysts Set New Price Targets

RMD has been the topic of several analyst reports. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Royal Bank of Canada increased their price objective on shares of ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a report on Thursday, April 24th. UBS Group decreased their price objective on shares of ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Mizuho set a $265.00 price objective on shares of ResMed in a report on Wednesday, April 16th. Finally, Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the company an "overweight" rating in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $259.33.

Insider Activity at ResMed

In related news, insider Kaushik Ghoshal sold 9,745 shares of ResMed stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the transaction, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. The trade was a 50.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company's stock, valued at $104,394,182.40. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,949 shares of company stock worth $11,822,260. Corporate insiders own 0.71% of the company's stock.

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.