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

The Manufacturers Life Insurance Company boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 0.3% during the third quarter, HoldingsChannel reports. The fund 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’s holdings in ResMed were worth $21,593,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after purchasing an additional 1,959,642 shares during the last quarter. Marshall Wace LLP acquired a new position in ResMed in the second quarter valued at $77,285,000. Greenvale Capital LLP boosted its position in ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after acquiring an additional 275,000 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in ResMed by 48.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after acquiring an additional 241,195 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of ResMed in the 2nd quarter worth about $42,036,000. 54.98% of the stock is owned by institutional investors.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the transaction, the director now directly owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. This trade represents a 2.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the transaction, the chief executive officer now owns 464,169 shares in the company, valued at $115,290,296.22. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,334 shares of company stock valued at $16,379,713. 0.71% of the stock is owned by corporate insiders.

ResMed Price Performance

RMD opened at $249.02 on Friday. ResMed Inc. has a twelve month low of $156.39 and a twelve month high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $36.56 billion, a price-to-earnings ratio of 32.98, a PEG ratio of 1.81 and a beta of 0.69. The firm has a 50-day moving average price of $242.24 and a 200-day moving average price of $225.66.

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

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a dividend of $0.53 per share. 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 dividend payout ratio (DPR) is presently 28.08%.

Wall Street Analyst Weigh In

Several brokerages recently commented on RMD. Royal Bank of Canada upped their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird boosted their target price on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Bank of America upped their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.70.

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.