Janus Henderson Group PLC Buys 296 Shares of ResMed Inc. (NYSE:RMD)

Janus Henderson Group PLC raised its stake in ResMed Inc. (NYSE:RMD) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,160 shares of the medical equipment provider’s stock after purchasing an additional 296 shares during the period. Janus Henderson Group PLC’s holdings in ResMed were worth $3,943,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in ResMed by 51.4% during 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. Charles Schwab Investment Management Inc. increased its holdings in shares of ResMed by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock valued at $225,578,000 after acquiring an additional 13,985 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of ResMed by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock worth $181,237,000 after purchasing an additional 2,406 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of ResMed by 48.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after purchasing an additional 241,195 shares in the last quarter. Finally, Greenvale Capital LLP grew its position in ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after purchasing an additional 275,000 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Up 0.2 %

Shares of ResMed stock opened at $245.22 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The firm has a market cap of $36.00 billion, a PE ratio of 32.48, a P/E/G ratio of 1.75 and a beta of 0.68. ResMed Inc. has a 1 year low of $162.18 and a 1 year high of $260.49. The stock has a fifty day moving average price of $242.31 and a 200-day moving average price of $226.81.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $1.64 EPS. ResMed’s revenue was up 11.1% on a year-over-year basis. Equities research analysts anticipate that ResMed Inc. will post 9.34 EPS for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.86%. ResMed’s payout ratio is 28.08%.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $231.91, for a total value of $3,405,134.53. Following the completion of the transaction, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at approximately $107,645,432.79. This trade represents a 3.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Witte Jan De sold 796 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. The trade was a 10.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,725 shares of company stock valued at $12,516,248. 0.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RMD shares. Bank of America upped their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Robert W. Baird boosted their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Finally, Royal Bank of Canada upped their price target on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.70.

ResMed Company 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.