Employees Provident Fund Board Acquires Shares of 358,101 ResMed Inc. $RMD

Employees Provident Fund Board purchased a new stake in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 358,101 shares of the medical equipment provider’s stock, valued at approximately $86,256,000. Employees Provident Fund Board owned about 0.25% of ResMed as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $193.96, for a total transaction of $968,054.36. Following the transaction, the chief executive officer owned 466,256 shares in the company, valued at $90,435,013.76. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 16,973 shares of company stock worth $3,580,754. 0.65% of the stock is owned by corporate insiders.

ResMed Trading Up 0.1%

ResMed stock opened at $188.83 on Friday. The business has a 50 day moving average price of $206.74 and a two-hundred day moving average price of $233.16. 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 stock has a market cap of $27.39 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 1.20 and a beta of 0.80. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $2.37 earnings per share. As a group, equities analysts forecast that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th were given a $0.60 dividend. The ex-dividend date was Thursday, May 14th. This represents a $2.40 annualized dividend and a yield of 1.3%. ResMed’s payout ratio is presently 23.14%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on RMD shares. Robert W. Baird set a $225.00 price objective on ResMed in a research report on Friday, May 1st. Royal Bank Of Canada upped their price objective on shares of ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. KeyCorp cut their price target on ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Citigroup reduced their price objective on shares of ResMed from $340.00 to $270.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $230.00 target price (down from $286.00) on shares of ResMed in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $273.00.

ResMed Company 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.