AustralianSuper Pty Ltd Acquires 46,079 Shares of ResMed Inc. $RMD

AustralianSuper Pty Ltd boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 14.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 357,485 shares of the medical equipment provider’s stock after buying an additional 46,079 shares during the period. AustralianSuper Pty Ltd’s holdings in ResMed were worth $97,854,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in RMD. Johnson Investment Counsel Inc. lifted its stake in shares of ResMed by 2.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after purchasing an additional 45 shares during the last quarter. Quadcap Wealth Management LLC raised its holdings in ResMed by 2.5% in the second quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock worth $485,000 after purchasing an additional 45 shares in the last quarter. NBT Bank N A NY lifted its position in shares of ResMed by 22.9% during the third quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock valued at $69,000 after buying an additional 47 shares during the last quarter. OFI Invest Asset Management lifted its position in shares of ResMed by 10.4% during the third quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock valued at $139,000 after buying an additional 48 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in shares of ResMed by 3.0% in the 2nd quarter. V Square Quantitative Management LLC now owns 1,747 shares of the medical equipment provider’s stock valued at $451,000 after buying an additional 51 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Performance

NYSE RMD opened at $257.96 on Thursday. The firm has a market capitalization of $37.65 billion, a P/E ratio of 26.40, a PEG ratio of 1.72 and a beta of 0.88. The stock has a 50-day simple moving average of $250.62 and a two-hundred day simple moving average of $263.24. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.13 and a current ratio of 2.89. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD) last posted its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping the consensus estimate of $2.49 by $0.06. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.ResMed’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. On average, equities analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $248.83, for a total transaction of $497,660.00. Following the sale, the director directly owned 66,773 shares of the company’s stock, valued at approximately $16,615,125.59. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the sale, the chief executive officer owned 466,223 shares in the company, valued at approximately $115,837,766.58. This represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 21,594 shares of company stock worth $5,403,495. Corporate insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

RMD has been the subject of several recent analyst reports. Morgan Stanley set a $305.00 price objective on shares of ResMed in a research note on Friday, October 31st. Royal Bank Of Canada lifted their price target on shares of ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Wells Fargo & Company initiated coverage on ResMed in a research report on Monday, October 13th. They set an “equal weight” rating and a $280.00 price target on the stock. UBS Group reissued a “buy” rating and issued a $345.00 price objective on shares of ResMed in a research report on Friday, December 12th. Finally, KeyCorp boosted their target price on ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $296.09.

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.