Charles Schwab Investment Management Inc. Increases Stake in ResMed Inc. (NYSE:RMD)

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

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

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the 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 completion of the transaction, the director now directly owns 87,204 shares in the company, valued at approximately $20,920,239.60. This represents a 2.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the completion of the transaction, the chief executive officer now directly owns 464,169 shares in the company, valued at $115,290,296.22. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,174 shares of company stock worth $14,882,278. Insiders own 0.71% of the company’s stock.

ResMed Stock Up 0.1 %

RMD stock opened at $243.78 on Friday. The company has a market cap of $35.79 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 1.77 and a beta of 0.69. The firm has a 50-day moving average of $241.86 and a two-hundred day moving average of $224.47. ResMed Inc. has a 12 month low of $151.95 and a 12 month high of $260.49. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

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

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio is currently 28.08%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RMD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, October 25th. Bank of America upped their target price on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada boosted their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $225.70.

ResMed 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.