ResMed Inc. (NYSE:RMD) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its position in ResMed Inc. (NYSE:RMD) by 23.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,347 shares of the medical equipment provider’s stock after buying an additional 5,483 shares during the period. Pacer Advisors Inc.’s holdings in ResMed were worth $7,164,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of RMD. Bank of New York Mellon Corp lifted its holdings in ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after acquiring an additional 1,959,642 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after purchasing an additional 241,195 shares during the last quarter. Greenvale Capital LLP boosted its holdings in ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after buying an additional 275,000 shares in the last quarter. Dimensional Fund Advisors LP grew its position in ResMed by 19.3% in the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after buying an additional 107,279 shares during the last quarter. Finally, Tandem Investment Advisors Inc. grew its position in ResMed by 3.0% in the second quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider’s stock worth $95,976,000 after buying an additional 14,590 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other ResMed news, Director Witte Jan De sold 796 shares of the company’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 sale, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $246.42, for a total transaction of $246,420.00. Following the completion of the transaction, the chief financial officer now directly owns 96,812 shares in the company, valued at approximately $23,856,413.04. This represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,174 shares of company stock worth $14,882,278. 0.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

ResMed Stock Performance

Shares of RMD stock opened at $243.78 on Friday. ResMed Inc. has a fifty-two week low of $151.95 and a fifty-two week high of $260.49. The stock’s 50-day moving average is $241.86 and its two-hundred day moving average is $224.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The firm has a market cap of $35.79 billion, a P/E ratio of 32.29, a PEG ratio of 1.77 and a beta of 0.69.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $1.19 billion. During the same period in the previous year, the company earned $1.64 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. Analysts predict that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. ResMed’s dividend payout ratio is currently 28.08%.

About ResMed

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.