L. Roy Papp & Associates LLP Has $1.82 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

L. Roy Papp & Associates LLP decreased its stake in ResMed Inc. (NYSE:RMD) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,975 shares of the medical equipment provider’s stock after selling 165 shares during the period. L. Roy Papp & Associates LLP’s holdings in ResMed were worth $1,824,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RMD. State Street Corp lifted its stake in shares of ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after acquiring an additional 116,918 shares during the last quarter. Geode Capital Management LLC increased its holdings in ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after purchasing an additional 380,383 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in ResMed by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock valued at $225,578,000 after purchasing an additional 13,985 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of ResMed by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock valued at $181,237,000 after purchasing an additional 2,406 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of ResMed by 92.7% during the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after purchasing an additional 215,561 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity

In related news, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the sale, the insider now owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now owns 81,218 shares of the company’s stock, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,307 shares of company stock worth $4,403,180 in the last three months. Company insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

RMD has been the subject of a number of research reports. KeyCorp raised their price objective on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. The Goldman Sachs Group initiated coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. Finally, Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

ResMed Trading Down 0.5 %

Shares of RMD stock opened at $237.45 on Wednesday. The company has a market cap of $34.87 billion, a P/E ratio of 28.03, a PEG ratio of 1.57 and a beta of 0.70. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $263.05. The stock has a 50 day simple moving average of $239.06 and a two-hundred day simple moving average of $238.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Research analysts forecast that ResMed Inc. will post 9.44 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

ResMed Company 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.