ResMed Inc. $RMD Shares Bought by Sienna Gestion

Sienna Gestion grew its stake in shares of ResMed Inc. (NYSE:RMD) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,023 shares of the medical equipment provider’s stock after purchasing an additional 2,988 shares during the quarter. Sienna Gestion’s holdings in ResMed were worth $7,745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RMD. Jones Financial Companies Lllp raised its holdings in ResMed by 52.6% during the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock worth $645,000 after purchasing an additional 994 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in ResMed during the second quarter worth approximately $389,000. Brown Advisory Inc. raised its holdings in ResMed by 17.8% during the second quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock worth $409,000 after purchasing an additional 240 shares in the last quarter. Cresset Asset Management LLC acquired a new stake in ResMed during the second quarter worth approximately $206,000. Finally, Alliancebernstein L.P. raised its holdings in ResMed by 24.2% during the second quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock worth $73,808,000 after purchasing an additional 55,790 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD opened at $193.05 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The stock has a market capitalization of $28.00 billion, a P/E ratio of 18.62, a P/E/G ratio of 1.24 and a beta of 0.80. The company’s fifty day moving average is $209.69 and its two-hundred day moving average is $234.84. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.07. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. ResMed’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.37 EPS. On average, sell-side analysts predict that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s payout ratio is currently 23.14%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $193.96, for a total transaction of $968,054.36. Following the completion of the transaction, the chief executive officer directly owned 466,256 shares in the company, valued at $90,435,013.76. This represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,973 shares of company stock worth $3,580,754 over the last three months. 0.65% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Evercore set a $255.00 price objective on shares of ResMed and gave the stock an “outperform” rating in a report on Monday, April 13th. Robert W. Baird set a $225.00 price objective on shares of ResMed in a report on Friday, May 1st. Royal Bank Of Canada lifted their target price on shares of ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. began coverage on shares of ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating on the stock. Finally, Weiss Ratings cut shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $279.82.

ResMed Company 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.