Arbejdsmarkedets Tillaegspension Invests $22.73 Million in ResMed Inc. $RMD

Arbejdsmarkedets Tillaegspension bought a new position in ResMed Inc. (NYSE:RMD) in the 4th quarter, Holdings Channel.com reports. The firm bought 94,349 shares of the medical equipment provider’s stock, valued at approximately $22,726,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Jones Financial Companies Lllp grew its position in ResMed by 52.6% in the 1st quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock worth $645,000 after purchasing an additional 994 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of ResMed in the 2nd quarter worth approximately $389,000. Brown Advisory Inc. increased its stake in shares of ResMed by 17.8% in the second quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock worth $409,000 after acquiring an additional 240 shares during the period. Cresset Asset Management LLC purchased a new position in ResMed during the second quarter valued at $206,000. Finally, Alliancebernstein L.P. lifted its stake in shares of ResMed by 24.2% in the second quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock worth $73,808,000 after buying an additional 55,790 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Trading Down 0.2%

Shares of RMD opened at $202.03 on Friday. The stock’s fifty day simple moving average is $223.93 and its 200-day simple moving average is $242.52. ResMed Inc. has a 12-month low of $198.61 and a 12-month high of $293.81. The firm has a market capitalization of $29.43 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.ResMed’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.37 EPS. As a group, research analysts predict that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, May 14th. ResMed’s dividend payout ratio is currently 23.14%.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $251.03, for a total value of $1,252,890.73. Following the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $117,035,959.69. The trade was a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 18,973 shares of company stock valued at $4,386,031 over the last quarter. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RMD shares. Citigroup lowered their price target on shares of ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Wells Fargo & Company decreased their target price on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Robert W. Baird set a $225.00 price objective on shares of ResMed in a research note on Friday, May 1st. JPMorgan Chase & Co. initiated coverage on shares of ResMed in a research note on Wednesday, April 15th. They set an “overweight” rating on the stock. Finally, Evercore set a $255.00 price target on ResMed and gave the company an “outperform” rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $286.18.

ResMed Profile

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.