Global X Japan Co. Ltd. Buys 3,807 Shares of ResMed Inc. $RMD

Global X Japan Co. Ltd. increased its stake in shares of ResMed Inc. (NYSE:RMD) by 6,921.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,862 shares of the medical equipment provider’s stock after purchasing an additional 3,807 shares during the period. Global X Japan Co. Ltd.’s holdings in ResMed were worth $930,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in ResMed during the 2nd quarter worth $306,452,000. First Trust Advisors LP grew its position in shares of ResMed by 285.1% in the third quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider’s stock valued at $121,864,000 after purchasing an additional 329,588 shares during the last quarter. Marshall Wace LLP increased its stake in shares of ResMed by 2,373.1% in the third quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider’s stock worth $85,126,000 after purchasing an additional 298,412 shares during the period. Nordea Investment Management AB increased its stake in shares of ResMed by 37.2% in the fourth quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock worth $262,027,000 after purchasing an additional 294,124 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of ResMed by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock worth $5,211,940,000 after purchasing an additional 293,515 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Performance

RMD opened at $222.22 on Friday. The stock’s 50 day simple moving average is $250.50 and its 200-day simple moving average is $255.56. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The stock has a market cap of $32.37 billion, a PE ratio of 21.98, a P/E/G ratio of 1.50 and a beta of 0.88. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81.

ResMed (NYSE:RMD) last issued its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the business earned $2.43 earnings per share. ResMed’s quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, February 12th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, February 12th. ResMed’s dividend payout ratio is 23.74%.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total transaction of $520,440.00. Following the completion of the transaction, the director owned 62,773 shares in the company, valued at $16,334,790.06. This trade represents a 3.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the sale, the chief executive officer owned 466,223 shares in the company, valued at $115,837,766.58. This trade represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,073 shares of company stock valued at $5,405,198 in the last three months. Company insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RMD. Royal Bank Of Canada raised their target price on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Wells Fargo & Company increased their price objective on ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. KeyCorp reaffirmed an “overweight” rating and set a $302.00 target price on shares of ResMed in a research report on Friday, January 30th. Robert W. Baird set a $281.00 target price on shares of ResMed in a research note on Friday, January 30th. Finally, UBS Group reissued a “buy” rating and issued a $345.00 price target on shares of ResMed in a report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and an average price target of $299.27.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.