Fisher Asset Management LLC Has $3.87 Million Stock Position in ResMed Inc. (NYSE:RMD)

Fisher Asset Management LLC grew its position in shares of ResMed Inc. (NYSE:RMD) by 16.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,482 shares of the medical equipment provider’s stock after purchasing an additional 3,110 shares during the quarter. Fisher Asset Management LLC’s holdings in ResMed were worth $3,867,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RMD. Cambridge Investment Research Advisors Inc. boosted its position in ResMed by 52.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 5,442 shares of the medical equipment provider’s stock valued at $805,000 after acquiring an additional 1,863 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ResMed by 11.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,017 shares of the medical equipment provider’s stock worth $7,692,000 after purchasing an additional 5,457 shares during the period. Mackenzie Financial Corp increased its holdings in ResMed by 12.6% in the third quarter. Mackenzie Financial Corp now owns 151,505 shares of the medical equipment provider’s stock worth $21,906,000 after purchasing an additional 16,966 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in ResMed by 3.2% in the third quarter. IFM Investors Pty Ltd now owns 29,262 shares of the medical equipment provider’s stock valued at $4,327,000 after buying an additional 914 shares during the period. Finally, Washington Capital Management Inc. bought a new position in shares of ResMed during the 3rd quarter worth approximately $325,000. 54.98% of the stock is owned by institutional investors.

ResMed Trading Down 0.4 %

Shares of ResMed stock opened at $216.16 on Wednesday. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $191.90 and a 200 day simple moving average of $176.02. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $237.26. The company has a market capitalization of $31.76 billion, a P/E ratio of 33.20, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company posted $1.68 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that ResMed Inc. will post 7.59 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be paid a $0.48 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s payout ratio is presently 29.49%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RMD shares. Royal Bank of Canada lifted their price objective on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. KeyCorp increased their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Needham & Company LLC upped their price target on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. raised their price objective on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Finally, Oppenheimer decreased their price objective on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.80.

Insider Activity

In related news, Director Karen Drexler sold 425 shares of ResMed stock in a transaction on Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the sale, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Karen Drexler sold 425 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the sale, the director now owns 8,446 shares in the company, valued at approximately $1,815,214.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. Insiders sold a total of 11,641 shares of company stock valued at $2,137,958 over the last three months. Corporate insiders own 1.21% of the company’s stock.

About ResMed

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.