Neuberger Berman Group LLC Boosts Position in ResMed Inc. $RMD

Neuberger Berman Group LLC lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 13.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,959 shares of the medical equipment provider’s stock after purchasing an additional 7,043 shares during the period. Neuberger Berman Group LLC’s holdings in ResMed were worth $16,686,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMD. SJS Investment Consulting Inc. grew its holdings in ResMed by 1,433.3% in the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 86 shares during the period. WFA of San Diego LLC acquired a new stake in ResMed in the 2nd quarter valued at $26,000. Westside Investment Management Inc. raised its holdings in shares of ResMed by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 66 shares during the period. GoalVest Advisory LLC purchased a new stake in shares of ResMed during the third quarter valued at approximately $37,000. Finally, IMA Advisory Services Inc. increased its stake in ResMed by 52.7% during the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

RMD has been the subject of several research analyst reports. KeyCorp reissued an “overweight” rating and issued a $302.00 target price on shares of ResMed in a research report on Friday, January 30th. Wall Street Zen upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Wells Fargo & Company boosted their price objective on ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. UBS Group reiterated a “buy” rating and issued a $345.00 target price on shares of ResMed in a research report on Friday, December 12th. Finally, Weiss Ratings raised ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average target price of $299.27.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the completion of the transaction, the chief executive officer owned 466,223 shares in the company, valued at approximately $127,642,532.94. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $260.22, for a total value of $520,440.00. Following the completion of the transaction, the director owned 62,773 shares of the company’s stock, valued at $16,334,790.06. This represents a 3.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 16,082 shares of company stock valued at $4,152,307. 0.65% of the stock is currently owned by corporate insiders.

ResMed Stock Down 0.9%

ResMed stock opened at $252.95 on Friday. The firm has a market cap of $36.85 billion, a price-to-earnings ratio of 25.02, a P/E/G ratio of 1.68 and a beta of 0.88. The firm has a fifty day moving average price of $255.22 and a two-hundred day moving average price of $260.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the business posted $2.43 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed’s dividend payout ratio is presently 23.74%.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.