TD Asset Management Inc Has $20.63 Million Stake in ResMed Inc. $RMD

Key Points

• TD Asset Management boosted its ResMed stake by 12.1% in the fourth quarter, bringing its holdings to 85,662 shares worth about $20.63 million.
• ResMed reported better-than-expected quarterly results, with EPS of $2.86 versus estimates of $2.79 and revenue of $1.43 billion, up 10.8% year over year.
• The company also announced a quarterly dividend of $0.60 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $286.18.

TD Asset Management Inc increased its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,662 shares of the medical equipment provider's stock after buying an additional 9,256 shares during the period. TD Asset Management Inc owned 0.06% of ResMed worth $20,633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Terra Nova Asset Management LLC raised its position in shares of ResMed by 0.6% in the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider's stock valued at $2,136,000 after buying an additional 46 shares in the last quarter. IMA Advisory Services Inc. increased 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 acquiring an additional 48 shares during the last quarter. Occidental Asset Management LLC increased its stake in ResMed by 3.0% in the fourth quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider's stock valued at $409,000 after acquiring an additional 49 shares during the last quarter. Wedmont Private Capital increased its stake in ResMed by 2.7% in the fourth quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider's stock valued at $542,000 after acquiring an additional 57 shares during the last quarter. Finally, New Wave Wealth Advisors LLC increased its stake in ResMed by 3.0% in the fourth quarter. New Wave Wealth Advisors LLC now owns 1,956 shares of the medical equipment provider's stock valued at $471,000 after acquiring an additional 57 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Performance

NYSE RMD opened at $195.95 on Monday. The firm's fifty day moving average price is $213.11 and its two-hundred day moving average price is $237.15. The stock has a market cap of $28.42 billion, a PE ratio of 18.90, a PEG ratio of 1.25 and a beta of 0.80. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $293.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping analysts' consensus estimates of $2.79 by $0.07. The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company's revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.37 earnings per share. On average, equities analysts expect that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed's payout ratio is presently 23.14%.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the business's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the sale, the chief executive officer owned 466,223 shares of the company's stock, valued at approximately $96,890,463.86. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 11,982 shares of company stock worth $2,612,700. Insiders own 0.65% of the company's stock.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of recent analyst reports. Citigroup decreased their price objective on shares of ResMed from $345.00 to $340.00 and set a "buy" rating on the stock in a research note on Thursday, April 9th. JPMorgan Chase & Co. initiated coverage on shares of ResMed in a research note on Wednesday, April 15th. They issued an "overweight" rating on the stock. Robert W. Baird set a $225.00 price objective on shares of ResMed in a research note on Friday, May 1st. Wall Street Zen cut shares of ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Finally, Wells Fargo & Company decreased their price objective on shares of ResMed from $270.00 to $227.00 and set an "equal weight" rating on the stock in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $286.18.

About ResMed

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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