Mackenzie Financial Corp Boosts Position in ResMed Inc. (NYSE:RMD)

Mackenzie Financial Corp raised its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,765 shares of the medical equipment provider's stock after acquiring an additional 16,260 shares during the quarter. Mackenzie Financial Corp owned approximately 0.11% of ResMed worth $28,859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in RMD. Ossiam grew its holdings in shares of ResMed by 2.4% during the first quarter. Ossiam now owns 1,919 shares of the medical equipment provider's stock worth $420,000 after buying an additional 45 shares in the last quarter. Ascent Group LLC grew its holdings in ResMed by 2.3% during the third quarter. Ascent Group LLC now owns 1,995 shares of the medical equipment provider's stock valued at $446,000 after purchasing an additional 45 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in ResMed by 3.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 1,400 shares of the medical equipment provider's stock valued at $291,000 after purchasing an additional 48 shares during the last quarter. Capital Impact Advisors LLC grew its holdings in ResMed by 3.0% during the fourth quarter. Capital Impact Advisors LLC now owns 1,916 shares of the medical equipment provider's stock valued at $399,000 after purchasing an additional 56 shares during the last quarter. Finally, Dearborn Partners LLC grew its stake in shares of ResMed by 3.8% in the third quarter. Dearborn Partners LLC now owns 1,577 shares of the medical equipment provider's stock worth $344,000 after acquiring an additional 57 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RMD shares. Oppenheimer lifted their price target on shares of ResMed from $185.00 to $205.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 30th. KeyCorp began coverage on ResMed in a report on Tuesday, February 6th. They set an "overweight" rating and a $227.00 price objective for the company. UBS Group lifted their price objective on ResMed from $175.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, January 25th. Royal Bank of Canada lifted their price objective on ResMed from $181.00 to $182.00 and gave the company a "sector perform" rating in a report on Thursday, January 25th. Finally, Mizuho reissued a "buy" rating and set a $215.00 price objective on shares of ResMed in a report on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, ResMed presently has an average rating of "Moderate Buy" and an average target price of $199.20.

ResMed Trading Up 2.2 %

ResMed stock traded up $3.78 during trading hours on Thursday, hitting $177.61. The stock had a trading volume of 1,583,061 shares, compared to its average volume of 1,005,330. ResMed Inc. has a one year low of $132.24 and a one year high of $243.52. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. The stock has a market cap of $26.12 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 2.29 and a beta of 0.67. The business's 50 day simple moving average is $186.42 and its 200-day simple moving average is $170.17.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the company earned $1.66 earnings per share. The firm's revenue was up 12.5% compared to the same quarter last year. On average, equities analysts predict that ResMed Inc. will post 7.46 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were given a dividend of $0.48 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.08%. ResMed's dividend payout ratio (DPR) is 31.74%.

Insider Buying and Selling

In related news, General Counsel Michael J. Rider sold 200 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company's stock, valued at $1,158,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Michael J. Rider sold 200 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company's stock, valued at $1,158,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares of the company's stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders sold 11,216 shares of company stock valued at $2,046,617 over the last 90 days. Company insiders own 1.21% 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. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.