Frontier Capital Management Co. LLC Purchases 45,075 Shares of ResMed Inc. (NYSE:RMD)

Frontier Capital Management Co. LLC boosted its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 30.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 192,279 shares of the medical equipment provider's stock after purchasing an additional 45,075 shares during the quarter. Frontier Capital Management Co. LLC owned about 0.13% of ResMed worth $43,972,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RMD. Vanguard Group Inc. increased its position in shares of ResMed by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock worth $4,156,089,000 after acquiring an additional 160,590 shares in the last quarter. Geode Capital Management LLC increased its holdings in ResMed by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock worth $899,860,000 after purchasing an additional 85,270 shares in the last quarter. Invesco Ltd. raised its stake in shares of ResMed by 32.2% in the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock worth $531,706,000 after purchasing an additional 566,046 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of ResMed by 20.6% in the fourth quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider's stock valued at $389,365,000 after purchasing an additional 290,664 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in ResMed by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider's stock worth $218,861,000 after buying an additional 32,973 shares in the last quarter. Institutional investors own 54.98% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. UBS Group dropped their target price on shares of ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Stifel Nicolaus reduced their target price on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. KeyCorp set a $274.00 price target on ResMed in a report on Thursday, April 24th. Finally, Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, ResMed presently has a consensus rating of "Moderate Buy" and a consensus target price of $258.83.

ResMed Trading Up 1.1 %

NYSE:RMD opened at $244.52 on Thursday. The company has a market cap of $35.85 billion, a P/E ratio of 28.87, a P/E/G ratio of 1.53 and a beta of 0.78. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock's fifty day moving average price is $222.89 and its two-hundred day moving average price is $234.04.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping the consensus estimate of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $2.13 EPS. The firm's revenue was up 7.9% compared to the same quarter last year. As a group, analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. ResMed's payout ratio is currently 23.79%.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the transaction, the insider now directly owns 9,725 shares in the company, valued at $2,327,289.75. The trade was a 50.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,949 shares of company stock valued at $10,799,082. Company insiders own 0.71% of the company's stock.

ResMed Profile

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.

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