Mawer Investment Management Ltd. Purchases 21,306 Shares of ResMed Inc. (NYSE:RMD)

Mawer Investment Management Ltd. lifted its stake in ResMed Inc. (NYSE:RMD) by 40.3% during the second quarter, HoldingsChannel reports. The firm owned 74,160 shares of the medical equipment provider’s stock after purchasing an additional 21,306 shares during the period. Mawer Investment Management Ltd.’s holdings in ResMed were worth $14,196,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in ResMed by 230.3% during the 1st quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider’s stock valued at $755,112,000 after acquiring an additional 2,658,709 shares in the last quarter. Norges Bank acquired a new position in shares of ResMed in the 4th quarter valued at $233,966,000. Los Angeles Capital Management LLC boosted its stake in shares of ResMed by 3,599.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock worth $98,823,000 after acquiring an additional 485,540 shares in the last quarter. Greenvale Capital LLP boosted its position in ResMed by 198.3% during the fourth quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock worth $94,938,000 after purchasing an additional 366,901 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in ResMed by 1,844.6% in the 1st quarter. Nordea Investment Management AB now owns 189,652 shares of the medical equipment provider’s stock valued at $37,506,000 after acquiring an additional 179,899 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 1.9 %

NYSE RMD opened at $249.56 on Tuesday. ResMed Inc. has a one year low of $132.24 and a one year high of $255.18. The company’s 50 day moving average price is $217.10 and its 200 day moving average price is $205.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The firm has a market capitalization of $36.67 billion, a price-to-earnings ratio of 38.33, a PEG ratio of 2.44 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 earnings per share. On average, sell-side analysts predict that ResMed Inc. will post 8.91 EPS for the current year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.53 per share. This is an increase from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. ResMed’s payout ratio is 32.57%.

Insider Activity at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 882 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the sale, the general counsel now directly owns 10,512 shares in the company, valued at $2,428,272. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the transaction, the insider now owns 18,741 shares in the company, valued at approximately $4,068,108.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. Rider sold 882 shares of ResMed stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total transaction of $203,742.00. Following the completion of the transaction, the general counsel now owns 10,512 shares in the company, valued at approximately $2,428,272. The disclosure for this sale can be found here. Insiders have sold a total of 82,248 shares of company stock worth $17,488,623 over the last ninety days. 1.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on RMD shares. Royal Bank of Canada increased their price objective on ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Needham & Company LLC downgraded shares of ResMed from a “buy” rating to a “hold” rating and set a $236.00 price target on the stock. in a research note on Wednesday, September 4th. Finally, KeyCorp upped their target price on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $204.70.

ResMed Company 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.