ResMed Inc. $RMD Shares Purchased by Fisher Asset Management LLC

Key Points

• Fisher Asset Management increased its stake in ResMed by 30% in Q3, buying an additional 14,011 shares to hold 60,784 shares valued at about $16.64 million.
• ResMed beat quarterly expectations, reporting EPS of $2.81 versus $2.68 expected and revenue of $1.42 billion (up 11% year-over-year).
• The company declared a quarterly dividend of $0.60 ($2.40 annual, ~0.9% yield), while insiders sold 14,082 shares (~$3.63 million) over the past three months, including CEO Michael J. Farrell.

Fisher Asset Management LLC raised its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 30.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 reporting period.

Other large investors also recently modified their holdings of the company. Entropy Technologies LP boosted its position in ResMed by 188.7% during the 2nd quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider's stock worth $4,227,000 after purchasing an additional 10,708 shares during the period. Quantbot Technologies LP lifted its stake in shares of ResMed by 244.8% during the second quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider's stock worth $9,380,000 after purchasing an additional 25,810 shares in the last quarter. Allianz Asset Management GmbH lifted its stake 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 worth $97,837,000 after purchasing an additional 110,647 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of ResMed by 3.5% in the third quarter. Nordea Investment Management AB now owns 790,872 shares of the medical equipment provider's stock worth $217,387,000 after buying an additional 26,629 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in shares of ResMed in the third quarter valued at about $3,110,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Up 0.3%

Shares of NYSE:RMD opened at $259.18 on Thursday. 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 company has a fifty day simple moving average of $254.84 and a 200 day simple moving average of $260.47. The firm has a market cap 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. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.13. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm's revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.43 EPS. On average, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, February 12th. ResMed's dividend payout ratio (DPR) is 23.74%.

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the company's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the sale, the chief executive officer directly owned 466,223 shares of the company's stock, valued at approximately $127,642,532.94. This represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total value of $502,620.00. Following the transaction, the director owned 64,773 shares in the company, valued at $16,278,102.63. This trade represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 14,082 shares of company stock valued at $3,631,867. 0.65% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on RMD. KeyCorp reissued an "overweight" rating and set a $302.00 price target on shares of ResMed in a research report on Friday, January 30th. UBS Group reissued a "buy" rating and set a $345.00 target price on shares of ResMed in a research report on Friday, December 12th. Weiss Ratings upgraded shares of ResMed from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 9th. Wells Fargo & Company lifted their price target on shares of ResMed from $265.00 to $270.00 and gave the stock an "equal weight" rating in a research note on Friday, January 30th. Finally, Piper Sandler boosted their price objective on shares of ResMed from $270.00 to $275.00 and gave the stock a "neutral" rating in a report on Friday, January 30th. One 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $299.27.

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.

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