3,098 Shares in ResMed Inc. $RMD Purchased by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. acquired a new position in shares of ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,098 shares of the medical equipment provider’s stock, valued at approximately $746,000.

A number of other large investors have also added to or reduced their stakes in the stock. Ramirez Asset Management Inc. increased its holdings in ResMed by 58.7% during the fourth quarter. Ramirez Asset Management Inc. now owns 1,171 shares of the medical equipment provider’s stock worth $282,000 after buying an additional 433 shares during the last quarter. Pinebridge Investments LLC purchased a new stake in ResMed during the fourth quarter worth about $34,410,000. PBU The Pension Fund of Early Childhood & Youth Educators purchased a new stake in ResMed during the fourth quarter worth about $7,933,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in ResMed by 1.9% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 33,488 shares of the medical equipment provider’s stock worth $8,066,000 after buying an additional 620 shares during the last quarter. Finally, Prudential PLC increased its holdings in ResMed by 117.6% during the fourth quarter. Prudential PLC now owns 45,705 shares of the medical equipment provider’s stock worth $11,009,000 after buying an additional 24,703 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

RMD opened at $195.95 on Monday. The company has a market capitalization of $28.42 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.25 and a beta of 0.80. 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 50-day moving average price of $213.11 and a 200-day moving average price of $237.15. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $293.81.

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

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be paid 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

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the completion of the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at $96,890,463.86. This trade represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,982 shares of company stock valued at $2,612,700 in the last quarter. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RMD. KeyCorp decreased their price objective on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Weiss Ratings downgraded shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Citigroup decreased their price objective 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. Finally, Wells Fargo & Company reduced their target price on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $286.18.

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.