MassMutual Private Wealth & Trust FSB Grows Stock Position in ResMed Inc. (NYSE:RMD)

MassMutual Private Wealth & Trust FSB lifted its holdings in ResMed Inc. (NYSE:RMD) by 1.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 66,597 shares of the medical equipment provider’s stock after buying an additional 1,027 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in ResMed were worth $15,230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in RMD. American Century Companies Inc. raised its position in ResMed by 17.7% in the second quarter. American Century Companies Inc. now owns 30,874 shares of the medical equipment provider’s stock worth $5,910,000 after acquiring an additional 4,639 shares during the period. Dimensional Fund Advisors LP raised its holdings in ResMed by 19.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after purchasing an additional 107,279 shares during the period. Ieq Capital LLC lifted its position in ResMed by 4.8% during the second quarter. Ieq Capital LLC now owns 12,266 shares of the medical equipment provider’s stock valued at $2,348,000 after purchasing an additional 563 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in ResMed by 33.6% during the second quarter. Benjamin Edwards Inc. now owns 398 shares of the medical equipment provider’s stock valued at $76,000 after purchasing an additional 100 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its position in ResMed by 2.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 31,733 shares of the medical equipment provider’s stock worth $6,074,000 after buying an additional 904 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RMD. Royal Bank of Canada lifted their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Bank of America upped their price target 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. The Goldman Sachs Group started coverage on shares of ResMed in a research report on Thursday. They set a “buy” rating on the stock. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $233.09.

ResMed Price Performance

Shares of ResMed stock opened at $239.89 on Monday. The stock has a market cap of $35.22 billion, a price-to-earnings ratio of 31.77, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The stock has a 50 day moving average price of $238.51 and a 200-day moving average price of $233.07. ResMed Inc. has a one year low of $170.39 and a one year high of $260.49.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the business earned $1.64 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts expect that ResMed Inc. will post 9.36 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Insider Activity 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 shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now owns 6,723 shares in the company, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now owns 81,218 shares of the company’s stock, valued at $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,099 shares of company stock valued at $2,719,385 over the last 90 days. Insiders own 0.71% of the company’s stock.

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.