Mackenzie Financial Corp Purchases 16,260 Shares of ResMed Inc. (NYSE:RMD)

Mackenzie Financial Corp grew its position in ResMed Inc. (NYSE:RMD) by 10.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 167,765 shares of the medical equipment provider’s stock after acquiring an additional 16,260 shares during the period. Mackenzie Financial Corp’s holdings in ResMed were worth $28,859,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its position in ResMed by 15.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,050 shares of the medical equipment provider’s stock worth $740,000 after purchasing an additional 414 shares during the last quarter. Cibc World Market Inc. raised its position in ResMed by 13.0% during the 1st quarter. Cibc World Market Inc. now owns 1,000 shares of the medical equipment provider’s stock worth $243,000 after purchasing an additional 115 shares during the last quarter. Vontobel Holding Ltd. raised its position in ResMed by 14.5% during the 1st quarter. Vontobel Holding Ltd. now owns 8,112 shares of the medical equipment provider’s stock worth $2,020,000 after purchasing an additional 1,025 shares during the last quarter. Sei Investments Co. raised its position in shares of ResMed by 7.8% in the 1st quarter. Sei Investments Co. now owns 40,740 shares of the medical equipment provider’s stock worth $9,781,000 after acquiring an additional 2,955 shares in the last quarter. Finally, Prudential PLC bought a new position in shares of ResMed in the 1st quarter worth about $694,000. 54.98% of the stock is currently owned by institutional investors.

Insider Transactions at ResMed

In other news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,216 shares of company stock worth $2,046,617. Company insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Needham & Company LLC raised their target price on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. raised their target price on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Royal Bank of Canada raised 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. UBS Group lifted their price target on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Finally, Mizuho reiterated a “buy” rating and set a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, ResMed has an average rating of “Moderate Buy” and an average price target of $199.20.

ResMed Trading Down 6.0 %

ResMed stock opened at $173.86 on Thursday. The stock has a market cap of $25.57 billion, a P/E ratio of 28.74, a PEG ratio of 2.29 and a beta of 0.67. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $243.52. The firm’s fifty day moving average price is $186.42 and its 200-day moving average price is $170.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, beating 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 last year, the firm earned $1.66 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities research analysts forecast that ResMed Inc. will post 7.46 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.10%. ResMed’s dividend payout ratio is currently 31.74%.

ResMed Company Profile

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.