Charles Schwab Investment Management Inc. Increases Holdings in ResMed Inc. (NYSE:RMD)

Charles Schwab Investment Management Inc. raised its holdings in ResMed Inc. (NYSE:RMDFree Report) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 817,176 shares of the medical equipment provider’s stock after acquiring an additional 2,882 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.56% of ResMed worth $120,836,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RMD. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of ResMed during the 3rd quarter valued at about $26,000. Compass Wealth Management LLC bought a new stake in ResMed in the fourth quarter valued at approximately $26,000. International Assets Investment Management LLC bought a new stake in ResMed in the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC lifted its position in ResMed by 224.6% in the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its position in ResMed by 72.4% in the second quarter. Creative Financial Designs Inc. ADV now owns 131 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 55 shares during the last quarter. 63.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RMD has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. Needham & Company LLC boosted their target price on ResMed from $180.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. KeyCorp assumed coverage on ResMed in a research note on Tuesday. They set an “overweight” rating and a $227.00 target price on the stock. Morgan Stanley raised ResMed from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $180.00 to $169.00 in a research note on Friday, October 27th. Finally, Royal Bank of Canada boosted their target price on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a research note on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $196.30.

View Our Latest Research Report on ResMed

ResMed Price Performance

Shares of RMD stock opened at $184.63 on Friday. The stock has a market cap of $27.16 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.29 and a beta of 0.69. The business’s fifty day moving average is $175.25 and its 200 day moving average is $164.32. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $243.52. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27.

ResMed (NYSE:RMDGet Free Report) last released its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm posted $1.66 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. Research analysts expect that ResMed Inc. will post 7.39 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th will be paid a $0.48 dividend. The ex-dividend date is Wednesday, February 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.04%. ResMed’s dividend payout ratio is currently 31.74%.

Insider Transactions at ResMed

In other news, CFO Brett Sandercock sold 3,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $152.62, for a total value of $457,860.00. Following the sale, the chief financial officer now directly owns 92,962 shares of the company’s stock, valued at $14,187,860.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Michael J. Farrell sold 5,678 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $152.04, for a total transaction of $863,283.12. Following the transaction, the chief executive officer now directly owns 440,986 shares of the company’s stock, valued at $67,047,511.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brett Sandercock sold 3,000 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $152.62, for a total value of $457,860.00. Following the transaction, the chief financial officer now directly owns 92,962 shares in the company, valued at $14,187,860.44. The disclosure for this sale can be found here. Insiders own 1.21% of the company’s stock.

ResMed Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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