Eurizon Capital SGR S.p.A. Acquires Shares of 216,193 ResMed Inc. $RMD

Key Points

• Eurizon Capital SGR S.p.A. initiated a new position in ResMed during the fourth quarter, buying 216,193 shares worth about $52.1 million, equal to roughly 0.15% of the company.
• ResMed reported strong quarterly results, with earnings of $2.86 per share beating estimates and revenue of $1.43 billion, up 10.8% year over year.
• The company also announced a quarterly dividend of $0.60 per share, while analysts currently hold a Moderate Buy consensus with an average price target of $286.18.

Eurizon Capital SGR S.p.A. acquired 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 and Exchange Commission. The fund acquired 216,193 shares of the medical equipment provider's stock, valued at approximately $52,077,000. Eurizon Capital SGR S.p.A. owned 0.15% of ResMed as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new position in ResMed in the 3rd quarter valued at $26,000. WFA of San Diego LLC acquired a new position in ResMed in the 2nd quarter valued at $26,000. International Assets Investment Management LLC acquired a new position in ResMed in the 4th quarter valued at $25,000. ORG Partners LLC increased its stake in ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider's stock valued at $26,000 after buying an additional 69 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in ResMed in the 3rd quarter valued at $31,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the business's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $207.82, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 the business's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The SEC filing for this sale provides additional information. Insiders sold a total of 18,973 shares of company stock worth $4,386,031 over the last quarter. Insiders own 0.65% of the company's stock.

ResMed Stock Performance

NYSE:RMD opened at $190.58 on Friday. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. ResMed Inc. has a fifty-two week low of $190.38 and a fifty-two week high of $293.81. The stock has a market cap of $27.64 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 1.30 and a beta of 0.84. The firm's fifty day simple moving average is $216.93 and its 200-day simple moving average is $239.34.

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

ResMed Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have issued reports on RMD shares. Wells Fargo & Company dropped their price objective on shares of ResMed from $270.00 to $227.00 and set an "equal weight" rating on the stock in a research note on Friday, May 1st. Stifel Nicolaus boosted their price objective on shares of ResMed from $260.00 to $265.00 and gave the company a "hold" rating in a research note on Friday, January 30th. Royal Bank Of Canada boosted 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. Wall Street Zen cut shares of ResMed from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Finally, KeyCorp lowered their price target on shares of ResMed from $302.00 to $290.00 and set an "overweight" rating on the stock in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company 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.

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