Impax Asset Management Group plc Acquires Shares of 3,869 ResMed Inc. $RMD

Impax Asset Management Group plc bought a new position in shares of ResMed Inc. (NYSE:RMD) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,869 shares of the medical equipment provider’s stock, valued at approximately $1,059,000.

Several other large investors also recently modified their holdings of RMD. Jones Financial Companies Lllp raised its position in ResMed by 52.6% during the 1st quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after purchasing an additional 994 shares during the last quarter. IFP Advisors Inc increased its stake in shares of ResMed by 101.4% during the second quarter. IFP Advisors Inc now owns 745 shares of the medical equipment provider’s stock valued at $192,000 after buying an additional 375 shares during the period. Apollon Wealth Management LLC raised its holdings in shares of ResMed by 28.9% during the second quarter. Apollon Wealth Management LLC now owns 1,915 shares of the medical equipment provider’s stock valued at $494,000 after acquiring an additional 429 shares in the last quarter. Johnson Investment Counsel Inc. lifted its stake in ResMed by 2.8% in the second quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after acquiring an additional 45 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its stake in ResMed by 2.7% in the second quarter. Concurrent Investment Advisors LLC now owns 2,226 shares of the medical equipment provider’s stock worth $574,000 after acquiring an additional 59 shares during the period. 54.98% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Witte Jan De sold 2,055 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total value of $524,025.00. Following the transaction, the director owned 4,261 shares in the company, valued at $1,086,555. The trade was a 32.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total transaction of $502,620.00. Following the sale, the director directly owned 64,773 shares in the company, valued at $16,278,102.63. This trade represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 18,137 shares of company stock valued at $4,658,832. 0.65% of the stock is currently owned by corporate insiders.

ResMed Trading Down 5.3%

NYSE:RMD opened at $245.93 on Friday. The firm has a market capitalization of $35.83 billion, a P/E ratio of 24.33, a PEG ratio of 1.72 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The company’s 50-day simple moving average is $252.63 and its 200 day simple moving average is $263.09.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business earned $2.43 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. As a group, analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s payout ratio is 23.74%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RMD shares. Robert W. Baird set a $281.00 price objective on shares of ResMed in a research report on Friday, January 30th. Royal Bank Of Canada boosted their price target on shares of ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Wall Street Zen raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. KeyCorp reaffirmed an “overweight” rating and set a $302.00 price objective on shares of ResMed in a research report on Friday, January 30th. Finally, Morgan Stanley set a $305.00 target price on ResMed in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $299.27.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.