Fisher Asset Management LLC Has $6.53 Million Holdings in ResMed Inc. (NYSE:RMD)

Fisher Asset Management LLC grew its position in ResMed Inc. (NYSE:RMD) by 6.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 26,727 shares of the medical equipment provider’s stock after acquiring an additional 1,563 shares during the quarter. Fisher Asset Management LLC’s holdings in ResMed were worth $6,525,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in ResMed in the 2nd quarter worth about $32,000. Ashton Thomas Securities LLC acquired a new position in ResMed in the 3rd quarter worth about $34,000. Versant Capital Management Inc increased its position in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new position in ResMed in the 2nd quarter worth about $37,000. Finally, Blue Trust Inc. increased its position in ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 137 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares in the company, valued at $5,502,777.28. This trade represents a 18.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the sale, the director now directly owns 87,204 shares of the company’s stock, valued at $20,920,239.60. This represents a 2.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,334 shares of company stock worth $16,379,713 in the last 90 days. 0.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th. Bank of America increased their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada increased their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, Wolfe Research reissued 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $225.70.

ResMed Price Performance

Shares of RMD stock opened at $249.33 on Friday. The stock has a 50 day moving average of $242.15 and a two-hundred day moving average of $225.38. 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 Inc. has a 12 month low of $151.95 and a 12 month high of $260.49. The company has a market capitalization of $36.60 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.82 and a beta of 0.69.

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

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given 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 0.85%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

About ResMed

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.