ResMed Inc. $RMD Shares Acquired by Addenda Capital Inc.

Addenda Capital Inc. grew its holdings in ResMed Inc. (NYSE:RMD) by 41.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 77,456 shares of the medical equipment provider’s stock after buying an additional 22,741 shares during the period. Addenda Capital Inc. owned 0.05% of ResMed worth $21,202,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Entropy Technologies LP grew its holdings in shares of ResMed by 188.7% in the 2nd quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock worth $4,227,000 after acquiring an additional 10,708 shares during the period. Quantbot Technologies LP boosted its position in ResMed by 244.8% during the second quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock worth $9,380,000 after purchasing an additional 25,810 shares in the last quarter. Inspire Investing LLC boosted its position in ResMed by 29.3% during the first quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider’s stock worth $6,397,000 after purchasing an additional 6,472 shares in the last quarter. American Century Companies Inc. grew its holdings in ResMed by 0.7% in the second quarter. American Century Companies Inc. now owns 175,901 shares of the medical equipment provider’s stock valued at $45,382,000 after purchasing an additional 1,183 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of ResMed by 1.4% in the second quarter. Vanguard Group Inc. now owns 18,746,925 shares of the medical equipment provider’s stock valued at $4,836,707,000 after buying an additional 253,223 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of several research reports. Morgan Stanley set a $305.00 price objective on ResMed in a research report on Friday, October 31st. CLSA raised ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of ResMed in a report on Monday. UBS Group restated a “buy” rating and issued a $345.00 price objective on shares of ResMed in a research report on Friday, December 12th. Finally, Royal Bank Of Canada lifted their price objective on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $296.09.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,011 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $249.75, for a total transaction of $2,000,747.25. Following the completion of the sale, the chief executive officer directly owned 467,866 shares of the company’s stock, valued at approximately $116,849,533.50. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $251.47, for a total transaction of $502,940.00. Following the completion of the transaction, the director directly owned 68,773 shares in the company, valued at approximately $17,294,346.31. This trade represents a 2.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 22,662 shares of company stock worth $5,946,466. Corporate insiders own 0.65% of the company’s stock.

ResMed Stock Performance

NYSE:RMD opened at $242.48 on Friday. The firm has a 50-day moving average of $254.35 and a two-hundred day moving average of $263.73. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13. The stock has a market cap of $35.39 billion, a P/E ratio of 24.82, a PEG ratio of 1.66 and a beta of 0.87. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.06. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. ResMed’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were issued a $0.60 dividend. The ex-dividend date was Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. ResMed’s dividend payout ratio is 24.56%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.