Mawer Investment Management Ltd. Decreases Holdings in ResMed Inc. $RMD

Mawer Investment Management Ltd. trimmed its holdings in shares of ResMed Inc. (NYSE:RMD) by 5.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 72,954 shares of the medical equipment provider’s stock after selling 4,582 shares during the quarter. Mawer Investment Management Ltd.’s holdings in ResMed were worth $17,572,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Terra Nova Asset Management LLC raised its position in shares of ResMed by 0.6% during the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $2,136,000 after buying an additional 46 shares in the last quarter. IMA Advisory Services Inc. raised its position in shares of ResMed by 52.7% during the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 48 shares in the last quarter. Occidental Asset Management LLC raised its position in ResMed by 3.0% in the 4th quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock worth $409,000 after purchasing an additional 49 shares during the period. Wedmont Private Capital raised its position in ResMed by 2.7% in the 4th quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock worth $542,000 after purchasing an additional 57 shares during the period. Finally, New Wave Wealth Advisors LLC raised its position in ResMed by 3.0% in the 4th quarter. New Wave Wealth Advisors LLC now owns 1,956 shares of the medical equipment provider’s stock worth $471,000 after purchasing an additional 57 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Price Performance

Shares of RMD stock opened at $186.58 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The company has a market capitalization of $27.07 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.21 and a beta of 0.80. The company’s 50-day simple moving average is $216.11 and its two-hundred day simple moving average is $238.80. ResMed Inc. has a one year low of $184.59 and a one year high of $293.81.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.37 EPS. As a group, equities analysts anticipate that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, May 14th. ResMed’s dividend payout ratio is currently 23.14%.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $251.03, for a total value of $1,252,890.73. Following the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $117,035,959.69. This represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,973 shares of company stock worth $4,386,031 over the last 90 days. Insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of recent analyst reports. KeyCorp reduced their price objective on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Royal Bank Of Canada increased their price objective on shares of ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Wells Fargo & Company reduced their price objective on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Citigroup reduced their price objective on shares of ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Finally, JPMorgan Chase & Co. initiated coverage on shares of ResMed in a research report on Wednesday, April 15th. They issued an “overweight” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $286.18.

ResMed Profile

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.