NEOS Investment Management LLC Grows Holdings in ResMed Inc. (NYSE:RMD)

NEOS Investment Management LLC raised its position in shares of ResMed Inc. (NYSE:RMD) by 25.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,039 shares of the medical equipment provider’s stock after purchasing an additional 1,238 shares during the quarter. NEOS Investment Management LLC’s holdings in ResMed were worth $1,381,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans boosted its holdings in ResMed by 12.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock worth $1,697,000 after buying an additional 755 shares during the period. Intech Investment Management LLC bought a new position in shares of ResMed in the third quarter worth about $244,000. Cerity Partners LLC grew its position in shares of ResMed by 82.0% during the third quarter. Cerity Partners LLC now owns 13,686 shares of the medical equipment provider’s stock worth $3,341,000 after purchasing an additional 6,167 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in ResMed by 0.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 88,469 shares of the medical equipment provider’s stock valued at $21,593,000 after purchasing an additional 240 shares during the period. Finally, D.A. Davidson & CO. purchased a new position in ResMed in the 3rd quarter worth approximately $229,000. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RMD shares. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Stifel Nicolaus cut their price objective on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, March 25th. Finally, The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.73.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,940 shares of company stock valued at $9,164,385 in the last ninety days. Corporate insiders own 0.71% of the company’s stock.

ResMed Stock Down 1.2 %

Shares of NYSE:RMD opened at $219.85 on Friday. The firm has a market capitalization of $32.29 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The business has a 50 day simple moving average of $233.70 and a two-hundred day simple moving average of $238.13. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, equities analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.96%. ResMed’s payout ratio is currently 25.03%.

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.