The Manufacturers Life Insurance Company Acquires 240 Shares of ResMed Inc. (NYSE:RMD)

The Manufacturers Life Insurance Company lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,469 shares of the medical equipment provider’s stock after purchasing an additional 240 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of ResMed worth $21,593,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in ResMed by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after buying an additional 1,959,642 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of ResMed by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock worth $225,578,000 after acquiring an additional 13,985 shares during the period. Los Angeles Capital Management LLC lifted its position in ResMed by 48.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after acquiring an additional 241,195 shares in the last quarter. Greenvale Capital LLP boosted its stake in ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after purchasing an additional 275,000 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in ResMed by 19.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after purchasing an additional 107,279 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RMD shares. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Robert W. Baird boosted their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada raised their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $225.70.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Monday, October 7th. The stock was sold at an average price of $231.91, for a total value of $3,405,134.53. Following the completion of the transaction, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at $107,645,432.79. The trade was a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Witte Jan De sold 796 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the sale, the director now owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,334 shares of company stock worth $16,379,713 in the last quarter. Corporate insiders own 0.71% of the company’s stock.

ResMed Price Performance

Shares of RMD opened at $249.02 on Friday. The company’s 50-day moving average is $242.24 and its 200-day moving average is $225.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The firm has a market capitalization of $36.56 billion, a PE ratio of 32.98, a PEG ratio of 1.81 and a beta of 0.69. ResMed Inc. has a fifty-two week low of $156.39 and a fifty-two week high of $260.49.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 earnings per share. Equities analysts forecast that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. ResMed’s payout ratio is presently 28.08%.

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.