ResMed Inc. (NYSE:RMD) Shares Purchased by Empirical Finance LLC

Empirical Finance LLC lifted its position in ResMed Inc. (NYSE:RMD) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,232 shares of the medical equipment provider’s stock after acquiring an additional 179 shares during the quarter. Empirical Finance LLC’s holdings in ResMed were worth $1,036,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RMD. OLD National Bancorp IN increased its stake in shares of ResMed by 17.8% in the third quarter. OLD National Bancorp IN now owns 1,975 shares of the medical equipment provider’s stock valued at $292,000 after purchasing an additional 298 shares during the period. Comerica Bank raised its stake in ResMed by 243.2% during the 3rd quarter. Comerica Bank now owns 29,749 shares of the medical equipment provider’s stock valued at $4,399,000 after acquiring an additional 21,082 shares in the last quarter. Public Sector Pension Investment Board raised its stake in ResMed by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 15,765 shares of the medical equipment provider’s stock valued at $2,331,000 after acquiring an additional 1,715 shares in the last quarter. American Century Companies Inc. grew its stake in shares of ResMed by 0.7% in the third quarter. American Century Companies Inc. now owns 59,537 shares of the medical equipment provider’s stock worth $8,804,000 after purchasing an additional 413 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. acquired a new position in ResMed during the fourth quarter worth about $241,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Up 2.5 %

Shares of NYSE RMD traded up $5.05 during mid-day trading on Friday, reaching $204.83. The company had a trading volume of 736,555 shares, compared to its average volume of 1,057,912. The stock has a fifty day moving average of $206.70 and a two-hundred day moving average of $192.35. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $229.97. The company has a market capitalization of $30.09 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.67 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business posted $1.68 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities research analysts expect that ResMed Inc. will post 7.7 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 9th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.94%. The ex-dividend date was Wednesday, May 8th. ResMed’s payout ratio is presently 29.49%.

Wall Street Analysts Forecast Growth

RMD has been the topic of several recent research reports. KeyCorp lifted their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Oppenheimer cut ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Needham & Company LLC reissued a “buy” rating and set a $236.00 price objective on shares of ResMed in a research note on Monday, June 24th. Royal Bank of Canada boosted their target price on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. Finally, Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $202.80.

Insider Activity

In related news, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $194.35, for a total transaction of $194,350.00. Following the completion of the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at approximately $17,502,383.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $194.35, for a total value of $194,350.00. Following the completion of the sale, the chief financial officer now owns 90,056 shares in the company, valued at approximately $17,502,383.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total value of $3,178,869.50. Following the sale, the chief executive officer now owns 440,752 shares in the company, valued at $95,422,808. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,834 shares of company stock worth $9,694,137. 1.21% of the stock is owned by corporate insiders.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.