Charles Schwab Investment Management Inc. Buys 13,985 Shares of ResMed Inc. (NYSE:RMD)

Charles Schwab Investment Management Inc. increased its stake in shares of ResMed Inc. (NYSE:RMD) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 924,047 shares of the medical equipment provider’s stock after purchasing an additional 13,985 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.63% of ResMed worth $225,578,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RMD. OFI Invest Asset Management bought a new stake in shares of ResMed during the second quarter worth $32,000. Ashton Thomas Securities LLC bought a new position in shares of ResMed in the third quarter worth about $34,000. Versant Capital Management Inc lifted its holdings in ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 120 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in ResMed in the 2nd quarter valued at about $37,000. Finally, Blue Trust Inc. boosted its position in ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 137 shares during the period. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Bank of America raised their price target on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. KeyCorp increased their target price on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.70.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total value of $479,800.00. Following the sale, the director now owns 87,204 shares in the company, valued at $20,920,239.60. This represents a 2.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,174 shares of company stock valued at $14,882,278. Insiders own 0.71% of the company’s stock.

ResMed Stock Performance

Shares of RMD opened at $243.78 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The firm has a market cap of $35.79 billion, a PE ratio of 32.29, a P/E/G ratio of 1.77 and a beta of 0.69. ResMed Inc. has a 12 month low of $151.95 and a 12 month high of $260.49. The stock has a fifty day moving average price of $241.86 and a 200-day moving average price of $224.47.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business posted $1.64 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. Equities research analysts predict that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. ResMed’s payout ratio is 28.08%.

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.