PBU The Pension Fund of Early Childhood & Youth Educators Makes New Investment in ResMed Inc. $RMD

PBU The Pension Fund of Early Childhood & Youth Educators purchased a new position in ResMed Inc. (NYSE:RMD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,933 shares of the medical equipment provider’s stock, valued at approximately $7,933,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in ResMed in the fourth quarter worth approximately $25,000. ORG Partners LLC lifted its position in ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 69 shares in the last quarter. Imprint Wealth LLC bought a new position in ResMed in the 3rd quarter valued at about $26,000. WFA of San Diego LLC bought a new position in ResMed in the 2nd quarter valued at about $26,000. Finally, Sunbelt Securities Inc. bought a new position in ResMed in the 3rd quarter valued at about $31,000. Institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $117,035,959.69. The trade was a 1.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,973 shares of company stock worth $3,865,591 over the last three months. 0.65% of the stock is owned by insiders.

ResMed Trading Up 0.8%

NYSE:RMD opened at $195.95 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The firm has a market cap of $28.42 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $293.81. The firm has a 50-day moving average price of $213.11 and a two-hundred day moving average price of $237.21.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.79 by $0.07. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $2.37 EPS. On average, equities analysts expect that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s payout ratio is 23.14%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Evercore set a $255.00 target price on ResMed and gave the company an “outperform” rating in a report on Monday, April 13th. JPMorgan Chase & Co. initiated coverage on ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating on the stock. Wells Fargo & Company lowered their price target on ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Robert W. Baird set a $225.00 price target on ResMed in a research report on Friday, May 1st. Finally, Royal Bank Of Canada upped their target price on shares of ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.