Empirical Finance LLC Buys 179 Shares of ResMed Inc. (NYSE:RMD)

Empirical Finance LLC grew its position in ResMed Inc. (NYSE:RMD) by 3.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,232 shares of the medical equipment provider’s stock after purchasing an additional 179 shares during the quarter. Empirical Finance LLC’s holdings in ResMed were worth $1,036,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of RMD. OLD National Bancorp IN boosted its position in shares of ResMed by 17.8% during the 3rd quarter. OLD National Bancorp IN now owns 1,975 shares of the medical equipment provider’s stock worth $292,000 after purchasing an additional 298 shares in the last quarter. Comerica Bank boosted its holdings in ResMed by 243.2% in the third quarter. Comerica Bank now owns 29,749 shares of the medical equipment provider’s stock worth $4,399,000 after acquiring an additional 21,082 shares in the last quarter. Public Sector Pension Investment Board grew its stake in ResMed by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 15,765 shares of the medical equipment provider’s stock valued at $2,331,000 after acquiring an additional 1,715 shares during the period. American Century Companies Inc. increased its holdings in shares of ResMed by 0.7% during the third quarter. American Century Companies Inc. now owns 59,537 shares of the medical equipment provider’s stock valued at $8,804,000 after acquiring an additional 413 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. acquired a new position in shares of ResMed during the fourth quarter worth approximately $241,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RMD has been the subject of a number of recent research reports. Mizuho restated a “buy” rating and set a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Needham & Company LLC reiterated a “buy” rating and set a $236.00 price target on shares of ResMed in a research note on Monday, June 24th. Royal Bank of Canada increased their price objective on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Finally, KeyCorp lifted their target price on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $202.80.

ResMed Stock Performance

RMD traded up $5.05 during midday trading on Friday, reaching $204.83. The company had a trading volume of 736,555 shares, compared to its average volume of 1,057,912. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $229.97. The business has a 50-day moving average price of $206.70 and a two-hundred day moving average price of $192.35. The stock has a market cap of $30.09 billion, a PE ratio of 30.69, a P/E/G ratio of 1.67 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company earned $1.68 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts expect that ResMed Inc. will post 7.7 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 9th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s payout ratio is currently 29.49%.

Insider Activity at ResMed

In other ResMed news, Director Karen Drexler sold 425 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the completion of the transaction, the director now owns 8,446 shares in the company, valued at approximately $1,815,214.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Witte Jan De sold 360 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the transaction, the director now directly owns 7,519 shares in the company, valued at $1,641,322.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Karen Drexler sold 425 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares in the company, valued at approximately $1,815,214.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,834 shares of company stock worth $9,694,137. Corporate insiders own 1.21% of the company’s stock.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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.