Envestnet Portfolio Solutions Inc. Purchases 171 Shares of ResMed Inc. (NYSE:RMD)

Envestnet Portfolio Solutions Inc. raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,128 shares of the medical equipment provider’s stock after purchasing an additional 171 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in ResMed were worth $538,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. boosted its holdings in ResMed by 5.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,461 shares of the medical equipment provider’s stock worth $1,843,000 after buying an additional 682 shares during the period. California Public Employees Retirement System boosted its holdings in shares of ResMed by 0.8% in the third quarter. California Public Employees Retirement System now owns 270,528 shares of the medical equipment provider’s stock worth $40,003,000 after acquiring an additional 2,185 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in shares of ResMed by 29.6% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,680 shares of the medical equipment provider’s stock valued at $544,000 after purchasing an additional 841 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of ResMed by 4.1% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 13,381 shares of the medical equipment provider’s stock valued at $1,979,000 after purchasing an additional 524 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in ResMed by 20.3% during the 3rd quarter. Corient Private Wealth LLC now owns 64,521 shares of the medical equipment provider’s stock worth $9,550,000 after purchasing an additional 10,892 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

NYSE:RMD opened at $218.28 on Wednesday. The company has a market capitalization of $32.07 billion, a price-to-earnings ratio of 33.53, a PEG ratio of 2.69 and a beta of 0.64. The business has a 50 day moving average of $198.78 and a 200 day moving average of $181.24. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $229.97.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business posted $1.68 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts predict that ResMed Inc. will post 7.64 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be issued a $0.48 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 0.88%. ResMed’s dividend payout ratio is currently 29.49%.

Insider Activity

In related news, Director Witte Jan De sold 360 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total transaction of $78,584.40. Following the transaction, the director now directly owns 7,519 shares in the company, valued at approximately $1,641,322.51. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other ResMed news, Director Witte Jan De sold 360 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the sale, the director now owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the transaction, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at $95,422,808. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,684 shares of company stock valued at $5,395,412. Insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RMD. Oppenheimer reduced their target price on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Royal Bank of Canada increased their target price on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. UBS Group boosted their price target on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Mizuho reiterated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Finally, KeyCorp boosted their target price on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $202.80.

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.