Connor Clark & Lunn Investment Management Ltd. Has $14.17 Million Stake in ResMed Inc. (NYSE:RMD)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 162.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,940 shares of the medical equipment provider's stock after buying an additional 38,346 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in ResMed were worth $14,165,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Jupiter Asset Management Ltd. acquired a new position in ResMed during the 4th quarter worth approximately $12,599,000. Sequoia Financial Advisors LLC boosted its holdings in ResMed by 20.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,502 shares of the medical equipment provider's stock worth $572,000 after purchasing an additional 429 shares during the last quarter. Wealthfront Advisers LLC grew its position in ResMed by 447.0% in the fourth quarter. Wealthfront Advisers LLC now owns 42,768 shares of the medical equipment provider's stock valued at $9,781,000 after purchasing an additional 34,950 shares in the last quarter. Morton Community Bank increased its stake in ResMed by 1.1% in the 4th quarter. Morton Community Bank now owns 17,304 shares of the medical equipment provider's stock valued at $3,957,000 after buying an additional 180 shares during the last quarter. Finally, Independent Advisor Alliance acquired a new stake in ResMed in the 4th quarter valued at $231,000. 54.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RMD shares. The Goldman Sachs Group started coverage on ResMed in a report on Thursday, January 16th. They issued a "buy" rating for the company. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a research report on Saturday. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. Finally, KeyCorp raised their target price on shares of ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ResMed currently has an average rating of "Moderate Buy" and an average target price of $243.82.

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ResMed Stock Performance

Shares of NYSE RMD traded up $0.30 during mid-day trading on Monday, reaching $224.46. 805,633 shares of the company were exchanged, compared to its average volume of 964,728. The stock has a market capitalization of $32.97 billion, a P/E ratio of 26.50, a P/E/G ratio of 1.53 and a beta of 0.74. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company's 50-day simple moving average is $236.30 and its 200-day simple moving average is $239.80. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.94%. ResMed's dividend payout ratio (DPR) is presently 25.03%.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their position. The sale was disclosed in a document filed 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 that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock valued at $9,164,385 in the last ninety days. 0.71% of the stock is currently owned by corporate insiders.

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.