ResMed Inc. (NYSE:RMD) Shares Acquired by Corient Capital Partners LLC

Corient Capital Partners LLC grew its position in ResMed Inc. (NYSE:RMDGet Rating) by 14.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,199 shares of the medical equipment provider’s stock after purchasing an additional 416 shares during the period. Corient Capital Partners LLC’s holdings in ResMed were worth $671,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RMD. CCLA Investment Management Ltd lifted its stake in shares of ResMed by 58.7% in the 1st quarter. CCLA Investment Management Ltd now owns 21,408 shares of the medical equipment provider’s stock valued at $5,192,000 after purchasing an additional 7,915 shares in the last quarter. Atria Investments LLC lifted its position in ResMed by 3.9% during the 1st quarter. Atria Investments LLC now owns 4,907 shares of the medical equipment provider’s stock worth $1,190,000 after acquiring an additional 183 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in ResMed by 153.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 871 shares of the medical equipment provider’s stock worth $211,000 after acquiring an additional 528 shares in the last quarter. Stephens Inc. AR lifted its position in ResMed by 1.1% during the 1st quarter. Stephens Inc. AR now owns 8,008 shares of the medical equipment provider’s stock worth $1,942,000 after acquiring an additional 88 shares in the last quarter. Finally, State of Michigan Retirement System lifted its position in ResMed by 0.5% during the 1st quarter. State of Michigan Retirement System now owns 36,911 shares of the medical equipment provider’s stock worth $8,951,000 after acquiring an additional 186 shares in the last quarter. 65.50% of the stock is owned by institutional investors and hedge funds.

ResMed Price Performance

Shares of NYSE RMD opened at $229.34 on Thursday. ResMed Inc. has a twelve month low of $189.40 and a twelve month high of $268.77. The company has a current ratio of 2.94, a quick ratio of 1.69 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $33.59 billion, a price-to-earnings ratio of 42.87, a price-to-earnings-growth ratio of 1.48 and a beta of 0.47. The business has a 50 day simple moving average of $220.58 and a 200-day simple moving average of $218.87.

ResMed (NYSE:RMDGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The medical equipment provider reported $1.51 EPS for the quarter, hitting analysts’ consensus estimates of $1.51. The firm had revenue of $950.30 million during the quarter, compared to the consensus estimate of $946.07 million. ResMed had a return on equity of 25.75% and a net margin of 21.70%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.51 EPS. As a group, equities research analysts expect that ResMed Inc. will post 6.48 earnings per share for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 10th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $1.76 dividend on an annualized basis and a yield of 0.77%. ResMed’s payout ratio is currently 32.90%.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 5,675 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $228.96, for a total transaction of $1,299,348.00. Following the completion of the transaction, the chief executive officer now directly owns 422,570 shares in the company, valued at approximately $96,751,627.20. The sale was disclosed in a document filed with the SEC, which is available through this link. In other ResMed news, COO Robert Andrew Douglas sold 11,189 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $232.51, for a total transaction of $2,601,554.39. Following the completion of the transaction, the chief operating officer now owns 28,408 shares in the company, valued at approximately $6,605,144.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 5,675 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $228.96, for a total value of $1,299,348.00. Following the transaction, the chief executive officer now owns 422,570 shares of the company’s stock, valued at approximately $96,751,627.20. The disclosure for this sale can be found here. Insiders sold a total of 75,815 shares of company stock worth $16,853,023 in the last three months. 1.39% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on RMD. Royal Bank of Canada boosted their price target on ResMed from $252.00 to $254.00 and gave the stock a “sector perform” rating in a research report on Friday, October 28th. Jefferies Financial Group began coverage on ResMed in a research report on Wednesday, October 12th. They set a “hold” rating and a $245.00 price target on the stock. KeyCorp boosted their price target on ResMed from $276.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, October 28th. JPMorgan Chase & Co. downgraded ResMed from an “overweight” rating to a “neutral” rating in a report on Friday, August 12th. Finally, Bank of America upgraded ResMed from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $245.00 to $260.00 in a report on Thursday, October 20th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $267.00.

About ResMed

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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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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