5,006 Shares in ResMed Inc. $RMD Acquired by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board opened a new position in ResMed, buying 5,006 shares valued at about $1.2 million in the fourth quarter.
• ResMed reported better-than-expected quarterly results, posting EPS of $2.86 versus estimates of $2.79 and revenue of $1.43 billion versus expectations of $1.42 billion. Revenue rose 10.8% year over year.
• The company also announced a quarterly dividend of $0.60 per share, payable June 18, which equates to an annualized dividend of $2.40 and a yield of about 1.2%.

North Dakota State Investment Board purchased a new stake in ResMed Inc. (NYSE:RMD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,006 shares of the medical equipment provider's stock, valued at approximately $1,206,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Elyxium Wealth LLC acquired a new position in shares of ResMed during the fourth quarter worth approximately $44,000. iA Global Asset Management Inc. grew its stake in ResMed by 15.3% in the 4th quarter. iA Global Asset Management Inc. now owns 11,250 shares of the medical equipment provider's stock valued at $2,710,000 after purchasing an additional 1,496 shares during the period. Canada Post Corp Registered Pension Plan grew its stake in ResMed by 22.7% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,304 shares of the medical equipment provider's stock valued at $1,518,000 after purchasing an additional 1,168 shares during the period. Dana Investment Advisors Inc. grew its stake in ResMed by 4.1% in the 4th quarter. Dana Investment Advisors Inc. now owns 27,826 shares of the medical equipment provider's stock valued at $6,702,000 after purchasing an additional 1,102 shares during the period. Finally, Stephens Inc. AR grew its stake in ResMed by 1.6% in the 4th quarter. Stephens Inc. AR now owns 49,427 shares of the medical equipment provider's stock valued at $11,906,000 after purchasing an additional 771 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RMD. Robert W. Baird set a $225.00 price objective on ResMed in a research note on Friday, May 1st. JPMorgan Chase & Co. assumed coverage on ResMed in a research note on Wednesday, April 15th. They set an "overweight" rating for the company. Wells Fargo & Company dropped their price objective on ResMed from $270.00 to $227.00 and set an "equal weight" rating on the stock in a report on Friday, May 1st. KeyCorp dropped their price objective on ResMed from $302.00 to $290.00 and set an "overweight" rating on the stock in a report on Monday, April 27th. Finally, Wall Street Zen cut ResMed from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, ResMed currently has an average rating of "Moderate Buy" and a consensus price target of $286.18.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $96,890,463.86. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 18,973 shares of company stock worth $4,386,031. Corporate insiders own 0.65% of the company's stock.

ResMed Price Performance

Shares of ResMed stock opened at $207.89 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The business's 50 day simple moving average is $222.00 and its two-hundred day simple moving average is $241.71. The stock has a market capitalization of $30.28 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 1.30 and a beta of 0.84. ResMed Inc. has a one year low of $198.61 and a one year high of $293.81.

ResMed (NYSE:RMD - Get Free Report) 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 business had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business's quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.37 EPS. Analysts forecast that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be given 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 is Thursday, May 14th. ResMed's dividend payout ratio (DPR) is currently 23.14%.

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.

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