GF Fund Management CO. LTD. Invests $831,000 in ResMed Inc. (NYSE:RMD)

GF Fund Management CO. LTD. purchased a new stake in ResMed Inc. (NYSE:RMD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,632 shares of the medical equipment provider's stock, valued at approximately $831,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RMD. Atomi Financial Group Inc. purchased a new stake in shares of ResMed in the 4th quarter valued at about $246,000. Mutual Advisors LLC bought a new position in shares of ResMed during the 4th quarter valued at about $208,000. Kingswood Wealth Advisors LLC bought a new position in shares of ResMed during the 4th quarter valued at about $236,000. Blue Trust Inc. increased its position in shares of ResMed by 43.1% during the 4th quarter. Blue Trust Inc. now owns 1,394 shares of the medical equipment provider's stock valued at $340,000 after purchasing an additional 420 shares during the last quarter. Finally, KBC Group NV increased its position in shares of ResMed by 2.1% during the 4th quarter. KBC Group NV now owns 74,253 shares of the medical equipment provider's stock valued at $16,981,000 after purchasing an additional 1,522 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

ResMed Trading Down 0.7%

Shares of RMD stock traded down $1.81 during trading hours on Friday, reaching $243.31. The company's stock had a trading volume of 109,722 shares, compared to its average volume of 1,019,175. The stock has a market capitalization of $35.68 billion, a P/E ratio of 28.75, a P/E/G ratio of 1.53 and a beta of 0.78. ResMed Inc. has a one year low of $179.42 and a one year high of $263.05. The firm's fifty day simple moving average is $229.74 and its 200 day simple moving average is $234.23. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $2.13 EPS. Equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be given a $0.53 dividend. The ex-dividend date is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. ResMed's dividend payout ratio is currently 23.79%.

Insider Activity

In other news, Director Witte Jan De sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the transaction, the director now owns 5,806 shares in the company, valued at $1,413,586.82. This trade represents a 25.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total value of $1,948,029.07. Following the completion of the transaction, the chief executive officer now owns 455,503 shares of the company's stock, valued at approximately $110,791,994.69. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,949 shares of company stock worth $11,822,260 in the last quarter. 0.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RMD. Royal Bank of Canada increased their price objective on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research report on Thursday, April 24th. Stifel Nicolaus reduced their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. Piper Sandler reduced their price objective on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley set a $286.00 price objective on ResMed and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Finally, KeyCorp set a $274.00 price target on ResMed in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $259.33.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.