Stifel Financial Corp Boosts Stock Holdings in ResMed Inc. (NYSE:RMD)

Stifel Financial Corp grew its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 24.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,508 shares of the medical equipment provider's stock after purchasing an additional 14,149 shares during the quarter. Stifel Financial Corp's holdings in ResMed were worth $16,356,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RMD. Invesco Ltd. raised its holdings in shares of ResMed by 32.2% in the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after purchasing an additional 566,046 shares in the last quarter. Norges Bank bought a new stake in shares of ResMed in the 4th quarter valued at about $118,605,000. Los Angeles Capital Management LLC raised its holdings in shares of ResMed by 60.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider's stock valued at $152,973,000 after purchasing an additional 250,746 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of ResMed in the 4th quarter valued at about $50,364,000. Finally, Nordea Investment Management AB raised its stake in shares of ResMed by 92.7% during the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider's stock worth $103,214,000 after acquiring an additional 215,561 shares in the last quarter. Institutional investors own 54.98% of the company's stock.

Wall Street Analyst Weigh In

RMD has been the subject of several recent analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research note on Friday, January 31st. The Goldman Sachs Group initiated coverage on shares of ResMed in a research note on Thursday, January 16th. They set a "buy" rating for the company. Mizuho set a $265.00 price objective on shares of ResMed in a research note on Wednesday, April 16th. Royal Bank of Canada boosted their price objective on shares of ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a research note on Thursday. Finally, Morgan Stanley assumed coverage on shares of ResMed in a research note on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, ResMed currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.83.

Insider Activity

In related news, insider Kaushik Ghoshal sold 9,113 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the transaction, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,289,265. This represents a 48.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $107,842,105.44. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,013 shares of company stock valued at $11,298,816 in the last quarter. 0.71% of the stock is currently owned by company insiders.

ResMed Stock Performance

RMD traded down $1.82 during midday trading on Monday, hitting $234.06. 1,117,896 shares of the company were exchanged, compared to its average volume of 1,017,721. The company's 50 day simple moving average is $221.91 and its 200 day simple moving average is $233.96. The firm has a market capitalization of $34.38 billion, a price-to-earnings ratio of 27.63, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.13 EPS. As a group, sell-side analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be issued a $0.53 dividend. The ex-dividend date is Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. ResMed's dividend payout ratio (DPR) is presently 23.79%.

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.