Stephens Investment Management Group LLC Acquires 7,330 Shares of ResMed Inc. (NYSE:RMD)

Stephens Investment Management Group LLC increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 2.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 336,554 shares of the medical equipment provider’s stock after acquiring an additional 7,330 shares during the period. ResMed comprises 1.1% of Stephens Investment Management Group LLC’s portfolio, making the stock its 26th biggest position. Stephens Investment Management Group LLC owned about 0.23% of ResMed worth $82,160,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RMD. Wealth Enhancement Advisory Services LLC grew its holdings in shares of ResMed by 22.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,104 shares of the medical equipment provider’s stock worth $1,011,000 after purchasing an additional 923 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in ResMed by 0.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 350,541 shares of the medical equipment provider’s stock worth $69,418,000 after acquiring an additional 1,797 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of ResMed by 13.3% during the first quarter. First Trust Direct Indexing L.P. now owns 4,290 shares of the medical equipment provider’s stock worth $850,000 after acquiring an additional 505 shares during the period. Maryland State Retirement & Pension System raised its stake in shares of ResMed by 2.8% during the first quarter. Maryland State Retirement & Pension System now owns 11,393 shares of the medical equipment provider’s stock valued at $2,256,000 after acquiring an additional 308 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in ResMed by 2.8% in the first quarter. Van ECK Associates Corp now owns 26,584 shares of the medical equipment provider’s stock worth $5,264,000 after purchasing an additional 735 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on RMD. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. KeyCorp lifted their price objective on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Bank of America increased their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Wolfe Research restated an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Finally, Baird R W upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $225.70.

ResMed Trading Down 0.2 %

ResMed stock opened at $242.47 on Friday. ResMed Inc. has a 52 week low of $138.55 and a 52 week high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $35.59 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 1.78 and a beta of 0.69. The stock has a 50-day moving average price of $242.28 and a 200 day moving average price of $219.31.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business earned $1.64 earnings per share. ResMed’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts anticipate that ResMed Inc. will post 9.22 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. ResMed’s payout ratio is 28.08%.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $214.25, for a total value of $3,145,832.75. Following the completion of the transaction, the chief executive officer now owns 440,799 shares in the company, valued at $94,441,185.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $214.25, for a total value of $3,145,832.75. Following the completion of the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at $94,441,185.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the transaction, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,874 shares of company stock worth $28,151,142. Company 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.