Wealth Enhancement Advisory Services LLC Raises Stake in ResMed Inc. $RMD

Wealth Enhancement Advisory Services LLC lifted its position in ResMed Inc. (NYSE:RMD) by 492.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,029 shares of the medical equipment provider’s stock after purchasing an additional 31,611 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in ResMed were worth $10,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in ResMed by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 18,746,925 shares of the medical equipment provider’s stock worth $4,836,707,000 after buying an additional 253,223 shares in the last quarter. State Street Corp grew its position in shares of ResMed by 1.0% during the second quarter. State Street Corp now owns 6,615,852 shares of the medical equipment provider’s stock worth $1,706,890,000 after purchasing an additional 64,448 shares in the last quarter. Geode Capital Management LLC raised its stake in ResMed by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 4,215,145 shares of the medical equipment provider’s stock valued at $1,083,409,000 after purchasing an additional 98,717 shares during the period. Norges Bank bought a new stake in ResMed during the 2nd quarter valued at approximately $306,452,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in ResMed by 2.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,021,001 shares of the medical equipment provider’s stock worth $263,418,000 after purchasing an additional 22,873 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

ResMed stock opened at $252.44 on Friday. The company’s 50-day moving average price is $249.96 and its 200-day moving average price is $263.18. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07. The company has a market cap of $36.84 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.72 and a beta of 0.88. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81.

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

ResMed Announces Dividend

The business also recently announced 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 payout ratio is 24.56%.

Analyst Upgrades and Downgrades

RMD has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their price objective on shares of ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Stifel Nicolaus reduced their price target on shares of ResMed from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Mizuho dropped their price objective on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Robert W. Baird reaffirmed a “neutral” rating and issued a $275.00 target price (down from $300.00) on shares of ResMed in a report on Tuesday, December 16th. Finally, Wells Fargo & Company started coverage on ResMed in a research report on Monday, October 13th. They issued an “equal weight” rating and a $280.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $296.09.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $248.83, for a total transaction of $497,660.00. Following the transaction, the director owned 66,773 shares in the company, valued at $16,615,125.59. The trade was a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Witte Jan De sold 2,055 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total transaction of $524,025.00. Following the completion of the sale, the director owned 4,261 shares of the company’s stock, valued at $1,086,555. This trade represents a 32.54% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 21,594 shares of company stock valued at $5,403,495. 0.65% of the stock is currently owned by insiders.

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.