Mawer Investment Management Ltd. Acquires 2,394 Shares of ResMed Inc. (NYSE:RMD)

Mawer Investment Management Ltd. lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 3.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 76,554 shares of the medical equipment provider’s stock after buying an additional 2,394 shares during the quarter. Mawer Investment Management Ltd.’s holdings in ResMed were worth $18,688,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in ResMed during the 2nd quarter valued at $32,000. Ashton Thomas Securities LLC purchased a new stake in ResMed during the 3rd quarter valued at $34,000. Versant Capital Management Inc boosted its position in ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 120 shares during the period. Financial Connections Group Inc. purchased a new stake in ResMed during the 2nd quarter valued at $37,000. Finally, Blue Trust Inc. boosted its position in ResMed by 182.7% during the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 137 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 0.4 %

NYSE:RMD traded up $1.02 on Monday, reaching $235.76. 16,099 shares of the stock traded hands, compared to its average volume of 1,044,527. The company has a market capitalization of $34.61 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.71 and a beta of 0.69. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $148.03 and a 12 month high of $260.49. The company’s fifty day simple moving average is $242.83 and its 200 day simple moving average is $223.67.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business posted $1.64 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts predict that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. ResMed’s dividend payout ratio is presently 28.08%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RMD. Robert W. Baird increased their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Bank of America raised their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.70.

Insider Transactions at ResMed

In related news, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $246.42, for a total value of $246,420.00. Following the transaction, the chief financial officer now owns 96,812 shares of the company’s stock, valued at approximately $23,856,413.04. This trade represents a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,056 shares of company stock worth $15,086,020 over the last three months. 0.71% of the stock is currently owned by company insiders.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.