Fideuram Asset Management Ireland dac Acquires New Stake in ResMed Inc. $RMD

Key Points

• Fideuram Asset Management Ireland dac initiated a new position in ResMed during the fourth quarter, buying 18,991 shares valued at about $4.7 million.
• ResMed reported better-than-expected quarterly results, with EPS of $2.86 versus estimates of $2.79 and revenue of $1.43 billion, up 10.8% year over year.
• The company also announced a quarterly dividend of $0.60 per share, equal to an annualized yield of about 1.2%, while analysts currently hold a Moderate Buy consensus on the stock.

Fideuram Asset Management Ireland dac acquired a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,991 shares of the medical equipment provider's stock, valued at approximately $4,712,000.

A number of other large investors have also made changes to their positions in the stock. National Pension Service boosted its stake in shares of ResMed by 1.1% during the fourth quarter. National Pension Service now owns 243,543 shares of the medical equipment provider's stock valued at $58,662,000 after acquiring an additional 2,709 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its stake in shares of ResMed by 206.5% during the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 10,420 shares of the medical equipment provider's stock valued at $2,510,000 after acquiring an additional 7,020 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of ResMed by 4.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,768 shares of the medical equipment provider's stock valued at $1,149,000 after acquiring an additional 211 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of ResMed by 116.4% during the fourth quarter. Intech Investment Management LLC now owns 67,729 shares of the medical equipment provider's stock valued at $16,314,000 after acquiring an additional 36,430 shares during the last quarter. Finally, Huntington National Bank boosted its stake in shares of ResMed by 6.8% during the fourth quarter. Huntington National Bank now owns 1,927 shares of the medical equipment provider's stock valued at $464,000 after acquiring an additional 123 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Stock Performance

ResMed stock opened at $203.43 on Friday. The stock's 50-day moving average is $217.68 and its 200-day moving average is $239.69. The company has a market cap of $29.51 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. ResMed Inc. has a 12 month low of $198.61 and a 12 month high of $293.81.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The company's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business posted $2.37 EPS. Equities analysts anticipate that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be issued 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 23.14%.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $251.03, for a total value of $1,252,890.73. Following the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $117,035,959.69. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm's 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. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 18,973 shares of company stock worth $4,386,031. Company insiders own 0.65% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RMD shares. Royal Bank Of Canada increased their target price on ResMed from $314.00 to $321.00 and gave the stock an "outperform" rating in a research report on Friday, May 1st. Wells Fargo & Company reduced their target price on ResMed from $270.00 to $227.00 and set an "equal weight" rating on the stock in a research report on Friday, May 1st. Evercore set a $255.00 target price on ResMed and gave the stock an "outperform" rating in a research report on Monday, April 13th. Robert W. Baird set a $225.00 target price on ResMed in a research report on Friday, May 1st. Finally, Citigroup reduced their target price on ResMed from $345.00 to $340.00 and set a "buy" rating on the stock in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and a consensus price target 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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