Mather Group LLC. Purchases Shares of 603 ResMed Inc. (NYSE:RMD)

Mather Group LLC. acquired a new position in shares of ResMed Inc. (NYSE:RMD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 603 shares of the medical equipment provider’s stock, valued at approximately $119,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RMD. Envestnet Portfolio Solutions Inc. acquired a new position in ResMed in the 3rd quarter valued at approximately $437,000. V Square Quantitative Management LLC acquired a new position in shares of ResMed in the third quarter valued at $193,000. Acadian Asset Management LLC lifted its position in ResMed by 439.6% in the third quarter. Acadian Asset Management LLC now owns 3,151 shares of the medical equipment provider’s stock worth $465,000 after purchasing an additional 2,567 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in ResMed by 17.0% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,617 shares of the medical equipment provider’s stock worth $239,000 after buying an additional 235 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in ResMed by 6,081.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 223,010 shares of the medical equipment provider’s stock valued at $32,976,000 after buying an additional 219,402 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 3.7 %

RMD opened at $205.44 on Friday. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $229.97. The stock has a market capitalization of $30.18 billion, a PE ratio of 31.56, a PEG ratio of 2.09 and a beta of 0.68. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $207.76 and a two-hundred day moving average price of $190.26.

ResMed (NYSE:RMD) last posted its quarterly earnings data 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. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. ResMed’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.68 EPS. As a group, equities analysts anticipate that ResMed Inc. will post 7.7 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 9th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s dividend payout ratio is 29.49%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RMD. Oppenheimer decreased their target price on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. KeyCorp upped their price objective on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Needham & Company LLC raised their target price on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Royal Bank of Canada boosted their price target on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Finally, Mizuho reiterated a “buy” rating and set a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $202.80.

Insider Buying and Selling

In other ResMed news, Director Witte Jan De sold 360 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the transaction, the director now directly owns 7,519 shares in the company, valued at approximately $1,641,322.51. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other ResMed news, Director Witte Jan De sold 360 shares of the firm’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 of the company’s stock, valued at $1,641,322.51. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the sale, the chief executive officer now owns 440,752 shares of the company’s stock, valued at approximately $95,422,808. The disclosure for this sale can be found here. Insiders sold a total of 31,151 shares of company stock worth $6,666,409 over the last three months. 1.21% of the stock is currently owned by company insiders.

ResMed Company 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.