Pacer Advisors Inc. Grows Stock Position in ResMed Inc. $RMD

Pacer Advisors Inc. raised its stake in shares of ResMed Inc. (NYSE:RMD) by 268.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 479,912 shares of the medical equipment provider’s stock after acquiring an additional 349,713 shares during the period. Pacer Advisors Inc.’s holdings in ResMed were worth $115,596,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Imprint Wealth LLC acquired a new stake in ResMed during the third quarter worth about $26,000. WFA of San Diego LLC acquired a new position in ResMed in the second quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new position in ResMed in the fourth quarter valued at approximately $25,000. ORG Partners LLC boosted its position in ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 69 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in ResMed in the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Up 1.4%

ResMed stock opened at $188.83 on Friday. 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 stock has a market capitalization of $27.39 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 1.19 and a beta of 0.80. The business has a 50 day simple moving average of $207.57 and a 200-day simple moving average of $233.47. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (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 analyst estimates of $1.42 billion. During the same quarter last year, the firm posted $2.37 EPS. The business’s revenue was up 10.8% on a year-over-year basis. On average, analysts anticipate that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.3%. ResMed’s dividend payout ratio is currently 23.14%.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $193.96, for a total value of $968,054.36. Following the sale, the chief executive officer owned 466,256 shares in the company, valued at $90,435,013.76. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The SEC filing for this sale provides additional information. Insiders have sold 16,973 shares of company stock valued at $3,580,754 over the last 90 days. 0.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RMD shares. Weiss Ratings cut shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Robert W. Baird set a $225.00 price target on shares of ResMed in a report on Friday, May 1st. Wells Fargo & Company dropped their price target on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. began coverage on shares of ResMed in a report 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, eight have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $273.00.

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.