Mackenzie Financial Corp Acquires 19,995 Shares of ResMed Inc. (NYSE:RMD)

Mackenzie Financial Corp increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 13.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 167,155 shares of the medical equipment provider’s stock after acquiring an additional 19,995 shares during the quarter. Mackenzie Financial Corp’s holdings in ResMed were worth $31,997,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in RMD. Cambridge Investment Research Advisors Inc. grew its stake in shares of ResMed by 173.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 14,884 shares of the medical equipment provider’s stock worth $2,560,000 after purchasing an additional 9,442 shares during the last quarter. Parallel Advisors LLC lifted its holdings in ResMed by 15.4% during the 4th quarter. Parallel Advisors LLC now owns 1,102 shares of the medical equipment provider’s stock worth $190,000 after buying an additional 147 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of ResMed by 23.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the medical equipment provider’s stock valued at $205,000 after buying an additional 225 shares during the last quarter. TD Asset Management Inc increased its stake in shares of ResMed by 9.5% in the fourth quarter. TD Asset Management Inc now owns 51,298 shares of the medical equipment provider’s stock valued at $8,824,000 after buying an additional 4,441 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in shares of ResMed by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 66,328 shares of the medical equipment provider’s stock worth $11,410,000 after acquiring an additional 680 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

ResMed Stock Performance

Shares of RMD opened at $239.00 on Friday. The stock has a 50-day moving average of $230.72 and a 200-day moving average of $211.18. ResMed Inc. has a one year low of $132.24 and a one year high of $255.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. The company has a market cap of $35.12 billion, a PE ratio of 36.71, a P/E/G ratio of 2.46 and a beta of 0.69.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that ResMed Inc. will post 8.92 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. This is a positive change from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, August 15th. ResMed’s dividend payout ratio (DPR) is 32.57%.

Analysts Set New Price Targets

RMD has been the topic of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Wednesday, September 18th. Bank of America increased their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. KeyCorp upped their price target on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $212.25.

Insider Activity

In other news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the completion of the sale, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at $85,060,983.03. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Peter C. Farrell sold 2,000 shares of the firm’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 transaction, the director now owns 87,204 shares in the company, valued at $20,920,239.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $192.97, for a total value of $2,833,378.51. Following the sale, the chief executive officer now owns 440,799 shares of the company’s stock, valued at approximately $85,060,983.03. The disclosure for this sale can be found here. Insiders sold 102,931 shares of company stock worth $22,644,807 over the last three months. 1.21% of the stock is currently 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.