Thrivent Financial for Lutherans Buys 11,481 Shares of ResMed Inc. $RMD

Thrivent Financial for Lutherans increased its stake in shares of ResMed Inc. (NYSE:RMD) by 105.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,408 shares of the medical equipment provider’s stock after buying an additional 11,481 shares during the quarter. Thrivent Financial for Lutherans’ holdings in ResMed were worth $5,433,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RMD. Jones Financial Companies Lllp grew its holdings in ResMed by 52.6% during the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock worth $645,000 after buying an additional 994 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in ResMed during the second quarter worth $389,000. Brown Advisory Inc. grew its holdings in ResMed by 17.8% during the second quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock worth $409,000 after buying an additional 240 shares in the last quarter. Cresset Asset Management LLC purchased a new position in ResMed in the second quarter worth $206,000. Finally, Alliancebernstein L.P. boosted its position in ResMed by 24.2% in the second quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock worth $73,808,000 after purchasing an additional 55,790 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company cut their price objective on ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Evercore set a $255.00 price objective on ResMed and gave the stock an “outperform” rating in a research report on Monday, April 13th. Citigroup cut their price objective on ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. KeyCorp cut their price objective on ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Finally, Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $286.18.

ResMed Stock Down 0.5%

Shares of NYSE RMD opened at $208.86 on Friday. ResMed Inc. has a one year low of $198.61 and a one year high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The business’s fifty day moving average price is $220.37 and its 200-day moving average price is $241.15. The stock has a market capitalization of $30.43 billion, a PE ratio of 20.14, a P/E/G ratio of 1.34 and a beta of 0.84.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm earned $2.37 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts anticipate 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. Investors of record on Thursday, May 14th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.1%. ResMed’s dividend payout ratio is 23.14%.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $96,890,463.86. This represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,973 shares of company stock worth $4,386,031 in the last three months. 0.65% of the stock is currently owned by insiders.

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.