NEOS Investment Management LLC Boosts Holdings in ResMed Inc. $RMD

NEOS Investment Management LLC increased its holdings in ResMed Inc. (NYSE:RMD) by 49.1% in the third quarter, Holdings Channel.com reports. The firm owned 13,539 shares of the medical equipment provider’s stock after acquiring an additional 4,461 shares during the period. NEOS Investment Management LLC’s holdings in ResMed were worth $3,706,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its position 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 valued at $645,000 after buying an additional 994 shares during the period. Harbour Investments Inc. boosted its holdings in ResMed by 264.2% during the 2nd quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 177 shares during the period. Stratos Wealth Partners LTD. bought a new position in ResMed during the 2nd quarter worth approximately $317,000. Chicago Partners Investment Group LLC increased its stake in ResMed by 15.3% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 1,260 shares of the medical equipment provider’s stock worth $344,000 after purchasing an additional 167 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in ResMed by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 31,923 shares of the medical equipment provider’s stock valued at $8,128,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

ResMed stock opened at $256.23 on Friday. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The stock’s 50 day simple moving average is $253.02 and its two-hundred day simple moving average is $262.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The stock has a market cap of $37.33 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 1.72 and a beta of 0.87.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the business posted $2.43 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is presently 23.74%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RMD shares. Morgan Stanley set a $305.00 target price on shares of ResMed in a report on Friday, October 31st. Wells Fargo & Company raised their price target on shares of ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Robert W. Baird set a $281.00 price objective on shares of ResMed in a research note on Friday, January 30th. Royal Bank Of Canada raised their target price on ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Finally, Stifel Nicolaus boosted their price target on ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $299.27.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total value of $502,620.00. Following the sale, the director directly owned 64,773 shares of the company’s stock, valued at approximately $16,278,102.63. The trade was a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $115,837,766.58. This trade represents a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 18,137 shares of company stock worth $4,658,832. 0.65% of the stock is 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.