Northwestern Mutual Wealth Management Co. Invests $946,000 in ResMed Inc. $RMD

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of ResMed Inc. (NYSE:RMD) in the second quarter, HoldingsChannel.com reports. The fund acquired 4,856 shares of the medical equipment provider’s stock, valued at approximately $946,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CFO4Life Group LLC bought a new position in ResMed in the 2nd quarter worth $443,000. Quantbot Technologies LP purchased a new position in ResMed during the second quarter valued at $15,275,000. Westpac Banking Corp bought a new stake in ResMed during the second quarter valued at about $4,203,000. Landscape Capital Management L.L.C. bought a new stake in ResMed during the second quarter valued at about $5,619,000. Finally, Korea Investment CORP purchased a new stake in ResMed in the second quarter worth about $9,846,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Price Performance

NYSE:RMD opened at $236.36 on Wednesday. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06. The business’s 50-day simple moving average is $208.86 and its two-hundred day simple moving average is $219.51. The stock has a market cap of $34.09 billion, a PE ratio of 22.66, a P/E/G ratio of 1.46 and a beta of 0.76. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $286.91.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.89 by $0.06. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.55 earnings per share. As a group, analysts forecast that ResMed Inc. will post 12.03 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $2.64 dividend on an annualized basis and a yield of 1.1%. This is a boost from ResMed’s previous quarterly dividend of $0.60. ResMed’s payout ratio is presently 25.31%.

Analyst Upgrades and Downgrades

RMD has been the topic of several recent research reports. Royal Bank Of Canada raised their price objective on ResMed from $234.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Robert W. Baird set a $213.00 price objective on ResMed in a research note on Friday, August 7th. Wells Fargo & Company reduced their target price on shares of ResMed from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Friday, August 7th. Rothschild & Co Redburn assumed coverage on shares of ResMed in a research note on Wednesday, August 19th. They set a “neutral” rating and a $230.00 target price on the stock. Finally, Mizuho lowered their price target on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, July 15th. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $239.38.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the director directly owned 52,773 shares of the company’s stock, valued at $11,873,925. This trade represents a 13.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the sale, the chief executive officer owned 466,256 shares in the company, valued at approximately $95,904,196.64. The trade was a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 22,973 shares of company stock worth $4,885,436. 0.65% of the stock is owned by insiders.

About ResMed

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.