Sienna Gestion Boosts Stock Position in ResMed Inc. $RMD

Sienna Gestion lifted its position in ResMed Inc. (NYSE:RMD) by 10.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,023 shares of the medical equipment provider’s stock after buying an additional 2,988 shares during the quarter. Sienna Gestion’s holdings in ResMed were worth $7,745,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Resources Management Corp CT ADV raised its holdings in shares of ResMed by 47.6% in the 4th quarter. Resources Management Corp CT ADV now owns 3,321 shares of the medical equipment provider’s stock valued at $800,000 after buying an additional 1,071 shares during the period. MML Investors Services LLC boosted its stake in shares of ResMed by 18.1% in the fourth quarter. MML Investors Services LLC now owns 12,682 shares of the medical equipment provider’s stock valued at $3,055,000 after purchasing an additional 1,941 shares during the period. Focus Partners Wealth boosted its stake in shares of ResMed by 54.3% in the fourth quarter. Focus Partners Wealth now owns 15,750 shares of the medical equipment provider’s stock valued at $3,794,000 after purchasing an additional 5,543 shares during the period. Entropy Technologies LP boosted its stake in shares of ResMed by 10.9% in the fourth quarter. Entropy Technologies LP now owns 18,321 shares of the medical equipment provider’s stock valued at $4,413,000 after purchasing an additional 1,804 shares during the period. Finally, Arax Advisory Partners purchased a new position in shares of ResMed in the fourth quarter valued at approximately $109,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 0.9%

Shares of ResMed stock opened at $193.05 on Tuesday. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.81. The company has a 50 day moving average of $209.69 and a 200 day moving average of $234.84. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $28.00 billion, a P/E ratio of 18.62, a P/E/G ratio of 1.24 and a beta of 0.80.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the firm earned $2.37 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, research analysts forecast that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be paid a $0.60 dividend. The ex-dividend date is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. ResMed’s payout ratio is currently 23.14%.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $193.96, for a total value of $968,054.36. Following the completion of the transaction, the chief executive officer owned 466,256 shares in the company, valued at $90,435,013.76. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold 16,973 shares of company stock valued at $3,580,754 in the last quarter. 0.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Evercore set a $255.00 price objective on shares of ResMed and gave the company an “outperform” rating in a research note on Monday, April 13th. Robert W. Baird set a $225.00 price target on shares of ResMed in a research report on Friday, May 1st. JPMorgan Chase & Co. initiated coverage on shares of ResMed in a research report on Wednesday, April 15th. They issued an “overweight” rating for the company. Citigroup decreased their price target on shares of ResMed to $270.00 and set a “buy” rating for the company in a research report on Monday. Finally, Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research report 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 given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.82.

About ResMed

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.