Perigon Wealth Management LLC Grows Holdings in ResMed Inc. $RMD

Perigon Wealth Management LLC increased its stake in shares of ResMed Inc. (NYSE:RMD) by 9.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 24,482 shares of the medical equipment provider’s stock after purchasing an additional 2,110 shares during the period. Perigon Wealth Management LLC’s holdings in ResMed were worth $6,701,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. boosted its position in shares of ResMed by 2.6% during the first quarter. Raymond James Financial Inc. now owns 42,870 shares of the medical equipment provider’s stock worth $9,597,000 after buying an additional 1,075 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in ResMed by 4.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,966 shares of the medical equipment provider’s stock worth $1,112,000 after acquiring an additional 201 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in ResMed by 13.0% during the 1st quarter. BNP Paribas Financial Markets now owns 310,018 shares of the medical equipment provider’s stock worth $69,398,000 after acquiring an additional 35,601 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ boosted its holdings in ResMed by 119.3% during the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 3,733 shares of the medical equipment provider’s stock valued at $836,000 after acquiring an additional 2,031 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in ResMed by 11.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 14,884 shares of the medical equipment provider’s stock valued at $3,332,000 after acquiring an additional 1,556 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Up 0.2%

Shares of NYSE:RMD opened at $244.90 on Monday. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The company’s 50 day moving average is $251.28 and its two-hundred day moving average is $263.73. The company has a market cap of $35.74 billion, a PE ratio of 25.07, a P/E/G ratio of 1.65 and a beta of 0.87. The company has a current ratio of 2.89, a quick ratio of 2.13 and a debt-to-equity ratio of 0.07.

ResMed (NYSE:RMD) last issued its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 earnings per share. Equities analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 1.0%. ResMed’s dividend payout ratio is presently 24.56%.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $251.47, for a total transaction of $502,940.00. Following the completion of the sale, the director owned 68,773 shares in the company, valued at approximately $17,294,346.31. The trade was a 2.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Witte Jan De sold 2,055 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total transaction of $524,025.00. Following the completion of the transaction, the director owned 4,261 shares of the company’s stock, valued at approximately $1,086,555. The trade was a 32.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,662 shares of company stock worth $5,946,466 over the last 90 days. Insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RMD. Baird R W cut shares of ResMed from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Wells Fargo & Company initiated coverage on shares of ResMed in a report on Monday, October 13th. They set an “equal weight” rating and a $280.00 target price on the stock. Stifel Nicolaus decreased their price target on shares of ResMed from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Mizuho cut their price objective on ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Finally, KeyCorp increased their price objective on ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $296.09.

ResMed Company 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.