Nicollet Investment Management Inc. Increases Stock Position in ResMed Inc. (NYSE:RMD)

Nicollet Investment Management Inc. grew its stake in ResMed Inc. (NYSE:RMD) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,348 shares of the medical equipment provider’s stock after buying an additional 54 shares during the period. ResMed makes up about 2.4% of Nicollet Investment Management Inc.’s holdings, making the stock its 11th biggest holding. Nicollet Investment Management Inc.’s holdings in ResMed were worth $6,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of ResMed by 51.4% during the second 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 acquiring an additional 1,959,642 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after buying an additional 241,195 shares during the period. Greenvale Capital LLP increased its holdings in shares of ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after buying an additional 275,000 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of ResMed by 19.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock valued at $126,670,000 after acquiring an additional 107,279 shares during the last quarter. Finally, Tandem Investment Advisors Inc. grew its position in ResMed by 3.0% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider’s stock worth $95,976,000 after acquiring an additional 14,590 shares during the last quarter. 54.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on RMD shares. Bank of America increased their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wolfe Research reissued an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Robert W. Baird raised their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, KeyCorp raised their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.70.

ResMed Price Performance

RMD stock opened at $234.77 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The firm has a market capitalization of $34.46 billion, a price-to-earnings ratio of 31.10, a PEG ratio of 1.71 and a beta of 0.69. The firm has a 50 day moving average price of $242.83 and a 200-day moving average price of $223.55. ResMed Inc. has a 52-week low of $147.39 and a 52-week high of $260.49.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.64 EPS. Equities research analysts forecast that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.90%. ResMed’s dividend payout ratio is 28.08%.

Insider Activity

In other ResMed news, General Counsel Michael J. Rider sold 882 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total transaction of $203,742.00. Following the transaction, the general counsel now owns 10,512 shares in the company, valued at approximately $2,428,272. This represents a 7.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction dated 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 approximately $1,672,749.63. The trade was a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 63,056 shares of company stock valued at $15,086,020 over 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.