ResMed Inc. (RMD) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in ResMed Inc. (NYSE:RMD) by 36.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,413 shares of the medical equipment provider’s stock after buying an additional 8,649 shares during the period. CIBC Asset Management Inc’s holdings in ResMed were worth $2,495,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of ResMed by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 376,787 shares of the medical equipment provider’s stock worth $27,116,000 after purchasing an additional 12,601 shares during the period. Creative Planning lifted its holdings in shares of ResMed by 97.1% during the second quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock worth $130,000 after purchasing an additional 823 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of ResMed by 6.6% during the second quarter. State of Alaska Department of Revenue now owns 9,529 shares of the medical equipment provider’s stock worth $742,000 after purchasing an additional 590 shares during the period. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of ResMed by 511.3% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 22,979 shares of the medical equipment provider’s stock worth $1,789,000 after purchasing an additional 19,220 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in ResMed by 5.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 69,077 shares of the medical equipment provider’s stock worth $5,379,000 after buying an additional 3,449 shares during the last quarter. Hedge funds and other institutional investors own 58.86% of the company’s stock.

ResMed Inc. (NYSE:RMD) opened at $84.98 on Friday. ResMed Inc. has a twelve month low of $57.45 and a twelve month high of $87.81. The firm has a market cap of $11,955.40, a PE ratio of 29.35, a P/E/G ratio of 1.87 and a beta of 0.79. The company has a current ratio of 4.72, a quick ratio of 3.86 and a debt-to-equity ratio of 0.50.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. ResMed had a net margin of 16.58% and a return on equity of 21.53%. The business had revenue of $523.66 million for the quarter, compared to analysts’ expectations of $506.08 million. During the same period in the previous year, the company earned $0.62 earnings per share. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. analysts predict that ResMed Inc. will post 3 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 9th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Wednesday, November 8th. ResMed’s dividend payout ratio (DPR) is presently 56.68%.

RMD has been the subject of a number of analyst reports. BidaskClub downgraded shares of ResMed from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Bank of America Corporation downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 2nd. Credit Suisse Group downgraded shares of ResMed from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 2nd. Citigroup Inc. raised shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a research note on Wednesday, August 2nd. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $67.57.

In other ResMed news, insider David Pendarvis sold 6,364 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $77.21, for a total value of $491,364.44. Following the transaction, the insider now directly owns 93,172 shares in the company, valued at $7,193,810.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brett Sandercock sold 1,250 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $84.50, for a total transaction of $105,625.00. Following the completion of the transaction, the chief financial officer now owns 71,772 shares in the company, valued at $6,064,734. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,234 shares of company stock worth $16,339,637. Corporate insiders own 1.77% of the company’s stock.

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About ResMed

ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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