ResMed Inc. (NYSE:RMD) Stock Holdings Boosted by MML Investors Services LLC

MML Investors Services LLC boosted its position in ResMed Inc. (NYSE:RMD) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,697 shares of the medical equipment provider’s stock after purchasing an additional 260 shares during the quarter. MML Investors Services LLC’s holdings in ResMed were worth $2,123,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of ResMed by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after buying an additional 1,959,642 shares during the period. Marshall Wace LLP acquired a new position in ResMed during the 2nd quarter worth $77,285,000. Greenvale Capital LLP grew its stake in shares of ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after purchasing an additional 275,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of 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 valued at $69,281,000 after purchasing an additional 249,454 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in ResMed by 48.3% in 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 purchasing an additional 241,195 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RMD has been the topic of several research analyst reports. Wolfe Research reissued an “underperform” rating and set a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. KeyCorp boosted their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada raised their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $227.91.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $231.91, for a total value of $3,405,134.53. Following the completion of the sale, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at $107,645,432.79. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s 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 sale, the director now owns 85,204 shares of the company’s stock, valued at approximately $20,210,388.80. This represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,725 shares of company stock valued at $11,253,448 over the last quarter. Company insiders own 0.71% of the company’s stock.

ResMed Price Performance

NYSE RMD opened at $241.02 on Tuesday. 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 1 year low of $164.12 and a 1 year high of $260.49. The company has a market cap of $35.38 billion, a PE ratio of 31.92, a PEG ratio of 1.73 and a beta of 0.68. The stock’s 50-day moving average price is $242.92 and its two-hundred day moving average price is $227.96.

ResMed (NYSE:RMD) last released its quarterly 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 business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business earned $1.64 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, analysts predict that ResMed Inc. will post 9.34 EPS for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. ResMed’s payout ratio is currently 28.08%.

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.