Mawer Investment Management Ltd. Increases Stake in ResMed Inc. (NYSE:RMD)

Mawer Investment Management Ltd. increased its position in shares of ResMed Inc. (NYSE:RMD) by 14.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,443 shares of the medical equipment provider’s stock after buying an additional 10,889 shares during the period. Mawer Investment Management Ltd. owned about 0.06% of ResMed worth $19,997,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RMD. True Wealth Design LLC raised its holdings in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares in the last quarter. OFI Invest Asset Management purchased a new position in ResMed in the fourth quarter valued at $39,000. BankPlus Trust Department acquired a new stake in ResMed in the fourth quarter valued at $44,000. Rosenberg Matthew Hamilton purchased a new stake in ResMed during the 4th quarter worth about $54,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of ResMed during the 4th quarter worth about $67,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Down 1.2 %

RMD opened at $219.85 on Friday. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The business has a 50 day moving average price of $233.70 and a two-hundred day moving average price of $238.13. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company has a market cap of $32.29 billion, a PE ratio of 25.96, a P/E/G ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts anticipate 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. Investors of record on Thursday, February 13th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RMD. JPMorgan Chase & Co. raised their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating 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 report on Friday, January 31st. Stifel Nicolaus dropped their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group started coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $249.73.

ResMed 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.