Mawer Investment Management Ltd. Sells 4,582 Shares of ResMed Inc. $RMD

Mawer Investment Management Ltd. lessened its stake in ResMed Inc. (NYSE:RMD) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,954 shares of the medical equipment provider’s stock after selling 4,582 shares during the period. Mawer Investment Management Ltd. owned approximately 0.05% of ResMed worth $17,572,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in RMD. Terra Nova Asset Management LLC increased its holdings in ResMed by 0.6% during the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $2,136,000 after buying an additional 46 shares during the last quarter. IMA Advisory Services Inc. grew its position in shares of ResMed by 52.7% during the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 48 shares during the period. Occidental Asset Management LLC increased its stake in shares of ResMed by 3.0% in the 4th quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock worth $409,000 after purchasing an additional 49 shares in the last quarter. Wedmont Private Capital increased its stake in shares of ResMed by 2.7% in the 4th quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock worth $542,000 after purchasing an additional 57 shares in the last quarter. Finally, New Wave Wealth Advisors LLC increased its stake in shares of ResMed by 3.0% in the 4th quarter. New Wave Wealth Advisors LLC now owns 1,956 shares of the medical equipment provider’s stock worth $471,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 2.1%

Shares of ResMed stock opened at $186.58 on Tuesday. The company has a market capitalization of $27.07 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.21 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The company has a fifty day moving average of $216.11 and a 200 day moving average of $238.80. ResMed Inc. has a fifty-two week low of $184.59 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned $2.37 EPS. The business’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts anticipate that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s dividend payout ratio is 23.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RMD shares. Evercore set a $255.00 price objective on ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. Wells Fargo & Company reduced their price objective on ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Citigroup reduced their price objective on ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. KeyCorp reduced their price objective on ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Finally, Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $286.18.

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the completion of the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at $117,035,959.69. This represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,973 shares of company stock valued at $4,386,031 in the last three months. Insiders own 0.65% of the company’s stock.

ResMed Company 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.