CIBC Private Wealth Group LLC Acquires 18,025 Shares of ResMed Inc. (NYSE:RMD)

CIBC Private Wealth Group LLC boosted its holdings in shares of ResMed Inc. (NYSE:RMD – Get Rating) by 13.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,593 shares of the medical equipment provider’s stock after acquiring an additional 18,025 shares during the period. CIBC Private Wealth Group LLC’s holdings in ResMed were worth $32,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Seven Eight Capital LP grew its holdings in ResMed by 3.8% during the 3rd quarter. Seven Eight Capital LP now owns 1,265 shares of the medical equipment provider’s stock worth $276,000 after acquiring an additional 46 shares in the last quarter. Greenleaf Trust grew its holdings in ResMed by 2.4% during the 2nd quarter. Greenleaf Trust now owns 2,303 shares of the medical equipment provider’s stock worth $483,000 after acquiring an additional 53 shares in the last quarter. Trust Asset Management LLC grew its holdings in ResMed by 3.7% during the 2nd quarter. Trust Asset Management LLC now owns 1,526 shares of the medical equipment provider’s stock worth $320,000 after acquiring an additional 55 shares in the last quarter. Dearborn Partners LLC grew its holdings in ResMed by 3.8% during the 3rd quarter. Dearborn Partners LLC now owns 1,577 shares of the medical equipment provider’s stock worth $344,000 after acquiring an additional 57 shares in the last quarter. Finally, Brinker Capital Investments LLC grew its holdings in ResMed by 0.9% during the 1st quarter. Brinker Capital Investments LLC now owns 6,428 shares of the medical equipment provider’s stock worth $1,559,000 after acquiring an additional 59 shares in the last quarter. 64.73% of the stock is currently owned by institutional investors.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 5,675 shares of the stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $215.63, for a total value of $1,223,700.25. Following the completion of the transaction, the chief executive officer now directly owns 436,900 shares of the company’s stock, valued at approximately $94,208,747. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ResMed news, insider David Pendarvis sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $210.07, for a total transaction of $315,105.00. Following the completion of the transaction, the insider now directly owns 97,172 shares of the company’s stock, valued at approximately $20,412,922.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 5,675 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $215.63, for a total transaction of $1,223,700.25. Following the transaction, the chief executive officer now directly owns 436,900 shares of the company’s stock, valued at $94,208,747. The disclosure for this sale can be found here. Insiders sold 29,119 shares of company stock valued at $6,338,477 in the last three months. 1.39% of the stock is owned by insiders.

ResMed Stock Performance

RMD stock opened at $208.55 on Wednesday. The firm has a market cap of $30.64 billion, a price-to-earnings ratio of 37.85, a PEG ratio of 1.94 and a beta of 0.48. The firm has a 50-day simple moving average of $218.28 and a two-hundred day simple moving average of $219.51. ResMed Inc. has a one year low of $189.40 and a one year high of $262.38. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.82 and a current ratio of 3.17.

ResMed (NYSE:RMD – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The medical equipment provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $996.22 million. ResMed had a net margin of 21.51% and a return on equity of 25.46%. ResMed’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the firm posted $1.47 EPS. On average, equities analysts forecast that ResMed Inc. will post 6.38 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 16th. Investors of record on Thursday, February 9th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Wednesday, February 8th. ResMed’s payout ratio is currently 31.94%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of ResMed from $245.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 18th. Finally, William Blair reissued an “outperform” rating on shares of ResMed in a research report on Tuesday, January 31st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $263.17.

ResMed Company Profile

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ResMed, Inc engages in providing digital health and cloud-connected medical devices. Its digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, chronic obstructive pulmonary disease, or COPD, and other chronic diseases. The firm operates through the Sleep and Respiratory Care and Software as a Service segments.