Aberdeen Group plc Has $75.94 Million Stake in ResMed Inc. $RMD

Aberdeen Group plc decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 6.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,973 shares of the medical equipment provider’s stock after selling 19,579 shares during the period. Aberdeen Group plc owned 0.19% of ResMed worth $75,936,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. SJS Investment Consulting Inc. boosted 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 worth $25,000 after acquiring an additional 86 shares in the last quarter. WFA of San Diego LLC bought a new stake in shares of ResMed during the second quarter valued at approximately $26,000. Westside Investment Management Inc. raised its position in shares of ResMed by 100.0% during the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 66 shares during the period. GoalVest Advisory LLC bought a new position in shares of ResMed in the 3rd quarter worth $37,000. Finally, IMA Advisory Services Inc. grew its position in ResMed by 52.7% in the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 48 shares during the period. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Performance

NYSE RMD opened at $252.47 on Monday. The company has a market capitalization of $36.78 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a 50-day simple moving average of $252.55 and a 200 day simple moving average of $262.74.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm earned $2.43 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. On average, research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be paid a $0.60 dividend. The ex-dividend date is Thursday, February 12th. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. ResMed’s payout ratio is presently 23.74%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RMD. Citigroup raised their price objective on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Royal Bank Of Canada upped their target price on shares of ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Weiss Ratings raised shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Robert W. Baird set a $281.00 price objective on ResMed in a report on Friday, January 30th. Finally, KeyCorp reissued an “overweight” rating and issued a $302.00 price objective on shares of ResMed in a research note on Friday, January 30th. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $299.27.

Insider Activity

In other news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the completion of the transaction, the chief executive officer owned 466,223 shares in the company, valued at approximately $115,837,766.58. This represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Witte Jan De sold 2,055 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total value of $524,025.00. Following the sale, the director directly owned 4,261 shares in the company, valued at $1,086,555. This trade represents a 32.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,137 shares of company stock valued at $4,658,832 in the last 90 days. Insiders own 0.65% of the company’s stock.

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.