M&T Bank Corp Acquires 462 Shares of ResMed Inc. (NYSE:RMD)

M&T Bank Corp raised its holdings in ResMed Inc. (NYSE:RMD) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,737 shares of the medical equipment provider’s stock after purchasing an additional 462 shares during the period. M&T Bank Corp’s holdings in ResMed were worth $2,622,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in shares of ResMed by 51.4% in the second 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 buying an additional 1,959,642 shares during the period. Marshall Wace LLP bought a new position in shares of ResMed in the second quarter worth $77,285,000. Greenvale Capital LLP raised its stake in ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after purchasing an additional 275,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in ResMed by 726.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after purchasing an additional 249,454 shares during the period. Finally, Los Angeles Capital Management LLC grew 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 worth $141,694,000 after buying an additional 241,195 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $237.20, for a total transaction of $474,400.00. Following the transaction, the director now directly owns 85,204 shares in the company, valued at approximately $20,210,388.80. This represents a 2.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction on Tuesday, November 12th. The shares were 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 47,725 shares of company stock worth $11,253,448 over the last quarter. Company insiders own 0.71% of the company’s stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $238.52 on Friday. The firm has a market cap of $35.01 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 1.78 and a beta of 0.68. ResMed Inc. has a 52 week low of $164.12 and a 52 week high of $260.49. The firm’s fifty day moving average is $242.65 and its 200-day moving average is $227.27. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.64 EPS. Sell-side analysts predict that ResMed Inc. will post 9.34 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Thursday, November 7th. ResMed’s dividend payout ratio is presently 28.08%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Royal Bank of Canada upped their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Wolfe Research reissued an “underperform” rating and set a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Finally, Robert W. Baird boosted their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.91.

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.