Fideuram Asset Management Ireland dac Takes $4.71 Million Position in ResMed Inc. $RMD

Fideuram Asset Management Ireland dac bought a new stake in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 18,991 shares of the medical equipment provider’s stock, valued at approximately $4,712,000.

A number of other large investors have also modified their holdings of RMD. Swedbank AB grew its stake in shares of ResMed by 103.1% in the fourth quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock valued at $265,553,000 after buying an additional 559,765 shares in the last quarter. First Trust Advisors LP grew its stake 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 buying an additional 329,588 shares in the last quarter. Marshall Wace LLP grew 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 valued at $85,126,000 after buying an additional 298,412 shares in the last quarter. Nordea Investment Management AB grew 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 valued at $262,027,000 after buying an additional 294,124 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of ResMed by 1.6% in the third quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock valued at $5,211,940,000 after buying an additional 293,515 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. KeyCorp lowered their price objective on ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Wells Fargo & Company lowered their price objective on ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Royal Bank Of Canada raised their price objective on ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, Evercore set a $255.00 price objective on ResMed and gave the company an “outperform” rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $286.18.

ResMed Price Performance

Shares of NYSE RMD opened at $203.43 on Friday. ResMed Inc. has a fifty-two week low of $198.61 and a fifty-two week high of $293.81. The business has a 50 day moving average price of $217.68 and a two-hundred day moving average price of $239.69. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The firm has a market cap of $29.51 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.79 by $0.07. The company had revenue of $1.43 billion during 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%.The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.37 EPS. Sell-side analysts expect that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be given a $0.60 dividend. The ex-dividend date is Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. ResMed’s dividend payout ratio (DPR) is presently 23.14%.

Insider Activity at ResMed

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

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.