ResMed Inc. (NYSE:RMD) Stake Decreased by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC decreased its holdings in ResMed Inc. (NYSE:RMD) by 38.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,515 shares of the medical equipment provider’s stock after selling 2,845 shares during the quarter. Terra Nova Asset Management LLC’s holdings in ResMed were worth $777,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of RMD. Inspire Advisors LLC lifted its position in shares of ResMed by 20.2% in the 3rd quarter. Inspire Advisors LLC now owns 1,553 shares of the medical equipment provider’s stock valued at $230,000 after acquiring an additional 261 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of ResMed by 3.4% during the fourth quarter. Nordea Investment Management AB now owns 9,753 shares of the medical equipment provider’s stock valued at $1,682,000 after buying an additional 324 shares in the last quarter. Mackenzie Financial Corp raised its position in ResMed by 12.6% during the third quarter. Mackenzie Financial Corp now owns 151,505 shares of the medical equipment provider’s stock valued at $21,906,000 after buying an additional 16,966 shares during the period. Caxton Associates LP lifted its stake in ResMed by 85.0% in the 3rd quarter. Caxton Associates LP now owns 14,964 shares of the medical equipment provider’s stock worth $2,213,000 after acquiring an additional 6,877 shares in the last quarter. Finally, Axxcess Wealth Management LLC acquired a new stake in ResMed during the 3rd quarter worth about $1,810,000. 54.98% of the stock is owned by institutional investors.

ResMed Trading Up 0.9 %

NYSE:RMD opened at $198.04 on Friday. The company’s 50 day moving average is $185.35 and its 200-day moving average is $165.60. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $243.52. The firm has a market cap of $29.13 billion, a price-to-earnings ratio of 32.73, a P/E/G ratio of 2.43 and a beta of 0.65.

ResMed (NYSE:RMD) last announced its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, topping the consensus estimate of $1.81 by $0.07. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.66 EPS. Equities analysts anticipate that ResMed Inc. will post 7.45 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Wednesday, February 7th. ResMed’s dividend payout ratio (DPR) is presently 31.74%.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now owns 6,688 shares in the company, valued at $1,158,696. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock worth $2,046,617 over the last three months. Company insiders own 1.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RMD. Mizuho reissued a “buy” rating and issued a $215.00 price target on shares of ResMed in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Royal Bank of Canada upped their price target on shares of ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. Needham & Company LLC lifted their price objective on ResMed from $180.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, UBS Group lifted their price target on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.30.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.