Cumberland Partners Ltd Acquires 11,000 Shares of ResMed Inc. (NYSE:RMD)

Cumberland Partners Ltd boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 550.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,000 shares of the medical equipment provider’s stock after purchasing an additional 11,000 shares during the quarter. Cumberland Partners Ltd’s holdings in ResMed were worth $2,973,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after acquiring an additional 380,383 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of ResMed by 726.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after purchasing an additional 249,454 shares in the last quarter. Nordea Investment Management AB increased its position in shares of ResMed by 92.7% in the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after purchasing an additional 215,561 shares during the period. State Street Corp increased its position in shares of ResMed by 1.9% in the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after purchasing an additional 116,918 shares during the period. Finally, AustralianSuper Pty Ltd lifted its position in ResMed by 3,266.5% during the fourth quarter. AustralianSuper Pty Ltd now owns 103,923 shares of the medical equipment provider’s stock worth $23,766,000 after purchasing an additional 100,836 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Stifel Nicolaus started coverage on ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Finally, The Goldman Sachs Group initiated coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

Insiders Place Their Bets

In related news, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the sale, the insider now owns 21,718 shares in the company, valued at $5,279,428.62. This represents a 22.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on 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 sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,307 shares of company stock worth $4,403,180. 0.71% of the stock is currently owned by insiders.

ResMed Price Performance

RMD stock opened at $234.48 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed Inc. has a 52-week low of $170.56 and a 52-week high of $263.05. The company has a market capitalization of $34.44 billion, a P/E ratio of 27.68, a PEG ratio of 1.54 and a beta of 0.70. The company has a fifty day moving average price of $237.99 and a 200-day moving average price of $239.04.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, equities analysts expect that ResMed Inc. will post 9.44 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

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.