Mirabella Financial Services LLP Purchases 5,562 Shares of ResMed Inc. $RMD

Mirabella Financial Services LLP grew its position in shares of ResMed Inc. (NYSE:RMD) by 203.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 8,302 shares of the medical equipment provider’s stock after acquiring an additional 5,562 shares during the quarter. Mirabella Financial Services LLP’s holdings in ResMed were worth $2,268,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. SJS Investment Consulting Inc. raised its stake in ResMed by 1,433.3% during the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. Imprint Wealth LLC purchased a new position in shares of ResMed in the 3rd quarter worth $26,000. WFA of San Diego LLC purchased a new position in shares of ResMed in the 2nd quarter worth $26,000. Westside Investment Management Inc. increased its holdings in shares of 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 buying an additional 66 shares during the last quarter. Finally, GoalVest Advisory LLC bought a new stake in shares of ResMed in the 3rd quarter worth about $37,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Price Performance

RMD stock opened at $230.80 on Tuesday. The stock has a market cap of $33.62 billion, a PE ratio of 22.83, a P/E/G ratio of 1.53 and a beta of 0.88. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The company has a 50-day moving average price of $254.76 and a 200 day moving average price of $257.89. 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 (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.43 EPS. Equities research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio is presently 23.74%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Royal Bank Of Canada increased their price target on shares of ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Weiss Ratings raised ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Stifel Nicolaus upped their price objective on ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Citigroup raised their price objective on ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, Wells Fargo & Company lifted their target price on ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $299.27.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total transaction of $520,440.00. Following the completion of the sale, the director directly owned 62,773 shares of the company’s stock, valued at approximately $16,334,790.06. This trade represents a 3.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $251.03, for a total value of $1,252,890.73. Following the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $117,035,959.69. The trade was a 1.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 21,073 shares of company stock worth $5,405,198. Company insiders own 0.65% of the company’s stock.

ResMed 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.