Integrated Investment Consultants LLC Makes New $1.34 Million Investment in ResMed Inc. $RMD

Integrated Investment Consultants LLC purchased a new position in ResMed Inc. (NYSE:RMD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,545 shares of the medical equipment provider’s stock, valued at approximately $1,336,000.

Several other institutional investors have also recently made changes to their positions in the company. Landscape Capital Management L.L.C. boosted its stake in ResMed by 123.2% during the third quarter. Landscape Capital Management L.L.C. now owns 49,017 shares of the medical equipment provider’s stock valued at $13,417,000 after buying an additional 27,060 shares during the last quarter. Nordea Investment Management AB boosted its stake in ResMed by 37.2% during the fourth quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after buying an additional 294,124 shares during the last quarter. WCM Investment Management LLC bought a new position in ResMed during the third quarter valued at approximately $3,110,000. Russell Investments Group Ltd. boosted its stake in ResMed by 20.2% during the third quarter. Russell Investments Group Ltd. now owns 112,755 shares of the medical equipment provider’s stock valued at $30,847,000 after buying an additional 18,966 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in ResMed by 44.8% during the third quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock valued at $97,837,000 after buying an additional 110,647 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

NYSE:RMD opened at $202.03 on Monday. The firm has a market capitalization of $29.43 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.29 and a beta of 0.84. ResMed Inc. has a 1 year low of $198.61 and a 1 year high of $293.81. The business has a 50 day simple moving average of $223.93 and a 200-day simple moving average of $242.41. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.07. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the company earned $2.37 EPS. Equities analysts forecast that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is presently 23.14%.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $207.82, for a total value of $1,037,229.62. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $96,890,463.86. This represents a 1.06% decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 18,973 shares of company stock worth $4,386,031. Company insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RMD. Piper Sandler increased their price target on ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Citigroup dropped their price target on ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Royal Bank Of Canada raised their price objective on ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. began coverage on ResMed in a research note on Wednesday, April 15th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $286.18.

ResMed Profile

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.