Mawer Investment Management Ltd. Raises Position in ResMed Inc. (NYSE:RMD)

Mawer Investment Management Ltd. grew its position in shares of ResMed Inc. (NYSE:RMD) by 40.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 74,160 shares of the medical equipment provider’s stock after acquiring an additional 21,306 shares during the period. Mawer Investment Management Ltd. owned about 0.05% of ResMed worth $14,196,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in ResMed by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock worth $3,052,229,000 after purchasing an additional 173,635 shares during the period. Bank of New York Mellon Corp grew its position in shares of ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after buying an additional 1,959,642 shares during the period. Norges Bank bought a new position in shares of ResMed in the 4th quarter worth about $233,966,000. Los Angeles Capital Management LLC lifted its position in ResMed by 48.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after acquiring an additional 241,195 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in ResMed by 15.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 698,905 shares of the medical equipment provider’s stock worth $120,225,000 after acquiring an additional 95,689 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

RMD opened at $249.56 on Tuesday. The company’s 50-day simple moving average is $217.10 and its two-hundred day simple moving average is $205.25. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $255.18. The stock has a market capitalization of $36.67 billion, a P/E ratio of 38.33, a P/E/G ratio of 2.44 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $1.60 earnings per share. As a group, analysts predict that ResMed Inc. will post 8.91 EPS for the current year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is 32.57%.

Wall Street Analysts Forecast Growth

RMD has been the subject of several recent research reports. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Needham & Company LLC cut ResMed from a “buy” rating to a “hold” rating and set a $236.00 price objective for the company. in a research note on Wednesday, September 4th. Royal Bank of Canada boosted their target price on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Finally, StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $204.70.

Insider Buying and Selling

In other ResMed news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at $4,068,108.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the transaction, the director now directly owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Justin Leong sold 48,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at $4,068,108.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,248 shares of company stock valued at $17,488,623. 1.21% of the stock is owned by insiders.

About ResMed

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.