Arbejdsmarkedets Tillaegspension Makes New Investment in ResMed Inc. $RMD

Key Points

• Arbejdsmarkedets Tillaegspension opened a new position in ResMed during the fourth quarter, buying 94,349 shares valued at about $22.7 million.
• ResMed’s latest quarterly results beat expectations, with EPS of $2.86 versus $2.79 expected and revenue of $1.43 billion, up 10.8% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $286.18, even as shares recently traded around $202.

Arbejdsmarkedets Tillaegspension bought a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 94,349 shares of the medical equipment provider's stock, valued at approximately $22,726,000. Arbejdsmarkedets Tillaegspension owned approximately 0.06% of ResMed at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its holdings in shares of ResMed by 52.6% in the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider's stock valued at $645,000 after purchasing an additional 994 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of ResMed in the second quarter worth $389,000. Brown Advisory Inc. raised its holdings in ResMed by 17.8% during the second quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider's stock worth $409,000 after acquiring an additional 240 shares in the last quarter. Cresset Asset Management LLC acquired a new position in ResMed during the second quarter valued at approximately $206,000. Finally, Alliancebernstein L.P. boosted its position in ResMed by 24.2% during the second quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider's stock valued at $73,808,000 after purchasing an additional 55,790 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on RMD shares. Stifel Nicolaus increased their price target on ResMed from $260.00 to $265.00 and gave the company a "hold" rating in a research report on Friday, January 30th. KeyCorp lowered their price target on ResMed from $302.00 to $290.00 and set an "overweight" rating on the stock in a research report on Monday, April 27th. JPMorgan Chase & Co. initiated coverage on ResMed in a research report on Wednesday, April 15th. They issued an "overweight" rating on the stock. Robert W. Baird set a $225.00 target price on ResMed in a research report on Friday, May 1st. Finally, Royal Bank Of Canada upped their target price on ResMed from $314.00 to $321.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, ResMed currently has a consensus rating of "Moderate Buy" and an average target price of $286.18.

ResMed Trading Down 0.2%

Shares of RMD stock opened at $202.03 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. ResMed Inc. has a fifty-two week low of $198.61 and a fifty-two week high of $293.81. The company has a market cap of $29.43 billion, a PE ratio of 19.48, a P/E/G ratio of 1.29 and a beta of 0.84. The stock's fifty day moving average price is $223.93 and its two-hundred day moving average price is $242.52.

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

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, May 14th. ResMed's dividend payout ratio (DPR) is presently 23.14%.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $96,890,463.86. This trade represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was 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 have sold 18,973 shares of company stock valued at $4,386,031. Company insiders own 0.65% of the company's stock.

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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