National Pension Service Grows Position in ResMed Inc. (NYSE:RMD)

National Pension Service boosted its stake in ResMed Inc. (NYSE:RMD – Get Rating) by 1.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 235,407 shares of the medical equipment provider’s stock after purchasing an additional 4,197 shares during the quarter. National Pension Service owned about 0.16% of ResMed worth $51,427,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of RMD. Ascent Group LLC raised its holdings in ResMed by 2.3% in the third quarter. Ascent Group LLC now owns 1,995 shares of the medical equipment provider’s stock valued at $446,000 after acquiring an additional 45 shares in the last quarter. Seven Eight Capital LP raised its holdings in ResMed by 3.8% in the third quarter. Seven Eight Capital LP now owns 1,265 shares of the medical equipment provider’s stock valued at $276,000 after acquiring an additional 46 shares in the last quarter. Greenleaf Trust raised its holdings in ResMed by 2.4% in the second quarter. Greenleaf Trust now owns 2,303 shares of the medical equipment provider’s stock valued at $483,000 after acquiring an additional 53 shares in the last quarter. Dearborn Partners LLC raised its holdings in ResMed by 3.8% in the third quarter. Dearborn Partners LLC now owns 1,577 shares of the medical equipment provider’s stock valued at $344,000 after acquiring an additional 57 shares in the last quarter. Finally, Brinker Capital Investments LLC raised its holdings in ResMed by 0.9% in the first quarter. Brinker Capital Investments LLC now owns 6,428 shares of the medical equipment provider’s stock valued at $1,559,000 after acquiring an additional 59 shares in the last quarter. 64.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RMD shares. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, January 18th. JPMorgan Chase & Co. raised their price target on shares of ResMed from $245.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 27th. William Blair restated an “outperform” rating on shares of ResMed in a research report on Tuesday, January 31st. Finally, StockNews.com began coverage on shares of ResMed in a research report on Thursday. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.17.

ResMed Trading Down 0.3 %

Shares of NYSE:RMD opened at $207.99 on Thursday. The company has a market cap of $30.56 billion, a PE ratio of 37.75, a P/E/G ratio of 1.94 and a beta of 0.48. The company’s 50-day moving average price is $218.22 and its 200 day moving average price is $219.43. ResMed Inc. has a fifty-two week low of $189.40 and a fifty-two week high of $262.38. The company has a quick ratio of 1.82, a current ratio of 3.17 and a debt-to-equity ratio of 0.48.

ResMed (NYSE:RMD – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The medical equipment provider reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $996.22 million. ResMed had a net margin of 21.51% and a return on equity of 25.46%. ResMed’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the firm posted $1.47 EPS. Sell-side analysts anticipate that ResMed Inc. will post 6.38 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Shareholders of record on Thursday, February 9th will be paid a dividend of $0.44 per share. The ex-dividend date is Wednesday, February 8th. This represents a $1.76 annualized dividend and a yield of 0.85%. ResMed’s payout ratio is 31.94%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Karen Drexler sold 594 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $226.58, for a total transaction of $134,588.52. Following the transaction, the director now owns 7,987 shares of the company’s stock, valued at approximately $1,809,694.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider David Pendarvis sold 1,500 shares of ResMed stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $210.07, for a total value of $315,105.00. Following the transaction, the insider now owns 97,172 shares of the company’s stock, valued at approximately $20,412,922.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Drexler sold 594 shares of ResMed stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $226.58, for a total transaction of $134,588.52. Following the completion of the transaction, the director now directly owns 7,987 shares in the company, valued at approximately $1,809,694.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,444 shares of company stock valued at $5,114,777. Company insiders own 1.39% of the company’s stock.

ResMed Company Profile

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ResMed, Inc engages in providing digital health and cloud-connected medical devices. Its digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, chronic obstructive pulmonary disease, or COPD, and other chronic diseases. The firm operates through the Sleep and Respiratory Care and Software as a Service segments.