Dundas Partners LLP Acquires 22,933 Shares of ResMed Inc. $RMD

Dundas Partners LLP increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 15.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,117 shares of the medical equipment provider’s stock after purchasing an additional 22,933 shares during the quarter. ResMed accounts for 3.4% of Dundas Partners LLP’s portfolio, making the stock its 12th biggest holding. Dundas Partners LLP owned about 0.12% of ResMed worth $47,935,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. boosted its stake in shares of ResMed by 1,433.3% during the 3rd 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 during the last quarter. WFA of San Diego LLC bought a new position in shares of ResMed in the second quarter worth about $26,000. Westside Investment Management Inc. boosted its stake in ResMed by 100.0% in the 3rd 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 during the third quarter worth $37,000. Finally, IMA Advisory Services Inc. boosted its holdings in shares of ResMed by 52.7% during 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 last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 0.9%

NYSE:RMD opened at $252.95 on Monday. The company has a market cap of $36.85 billion, a PE ratio of 25.02, a P/E/G ratio of 1.68 and a beta of 0.88. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The company’s 50 day moving average is $255.22 and its two-hundred day moving average is $259.83.

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

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. ResMed’s dividend payout ratio (DPR) is 23.74%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wall Street Zen raised ResMed from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Stifel Nicolaus raised their price objective on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Piper Sandler boosted their target price on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. KeyCorp reiterated an “overweight” rating and issued a $302.00 price target on shares of ResMed in a report on Friday, January 30th. Finally, UBS Group reiterated a “buy” rating and set a $345.00 target price on shares of ResMed in a report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus price target of $299.27.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total value of $520,440.00. Following the sale, the director directly owned 62,773 shares in the company, valued at approximately $16,334,790.06. The trade was a 3.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $273.78, for a total value of $1,366,435.98. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $127,642,532.94. This represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 16,082 shares of company stock worth $4,152,307. 0.65% of the stock is owned by corporate insiders.

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.