ResMed Inc. (NYSE:RMD) Stock Holdings Boosted by Cibc World Markets Corp

Cibc World Markets Corp lifted its position in shares of ResMed Inc. (NYSE:RMD) by 15.8% in the 4th quarter, Holdings Channel reports. The fund owned 23,141 shares of the medical equipment provider’s stock after buying an additional 3,164 shares during the period. Cibc World Markets Corp’s holdings in ResMed were worth $5,292,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. True Wealth Design LLC grew its position in shares of ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares during the last quarter. OFI Invest Asset Management acquired a new stake in ResMed in the fourth quarter worth about $39,000. BankPlus Trust Department acquired a new stake in ResMed in the fourth quarter worth about $44,000. Rosenberg Matthew Hamilton acquired a new stake in ResMed in the fourth quarter worth about $54,000. Finally, SBI Securities Co. Ltd. acquired a new stake in ResMed in the fourth quarter worth about $67,000. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. Morgan Stanley initiated coverage on shares of ResMed in a report on Wednesday. They issued an “overweight” rating and a $280.00 price objective for the company. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Stifel Nicolaus cut their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.83.

Insiders Place Their Bets

In other news, insider Kaushik Ghoshal sold 9,745 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total value of $2,332,075.95. Following the transaction, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. This represents a 50.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,940 shares of company stock worth $9,164,385. Company insiders own 0.71% of the company’s stock.

ResMed Price Performance

NYSE RMD opened at $222.07 on Thursday. The stock’s 50-day moving average price is $235.48 and its two-hundred day moving average price is $239.36. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company has a market cap of $32.61 billion, a PE ratio of 26.22, a PEG ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.95%. ResMed’s payout ratio is presently 25.03%.

ResMed Company Profile

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.