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

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its stake in ResMed by 4.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 57,717 shares of the medical equipment provider's stock valued at $13,199,000 after purchasing an additional 2,602 shares during the last quarter. Pacific Point Advisors LLC acquired a new position in ResMed in the 4th quarter worth about $1,276,000. Vise Technologies Inc. acquired a new position in ResMed in the 4th quarter worth about $267,000. JT Stratford LLC raised its holdings in shares of ResMed by 75.4% during the fourth quarter. JT Stratford LLC now owns 10,447 shares of the medical equipment provider's stock valued at $2,389,000 after acquiring an additional 4,491 shares during the last quarter. Finally, McIlrath & Eck LLC raised its holdings in shares of ResMed by 438.5% during the fourth quarter. McIlrath & Eck LLC now owns 210 shares of the medical equipment provider's stock valued at $48,000 after acquiring an additional 171 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In related news, Director Witte Jan De sold 2,000 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total transaction of $486,940.00. Following the sale, the director now owns 5,806 shares in the company, valued at $1,413,586.82. This represents a 25.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the sale, the chief executive officer now owns 455,472 shares in the company, valued at approximately $104,394,182.40. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,949 shares of company stock valued at $11,822,260. Insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of research analyst reports. Mizuho set a $265.00 target price on ResMed in a report on Wednesday, April 16th. KeyCorp set a $274.00 price objective on ResMed in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. Finally, Wall Street Zen cut shares of ResMed from a "buy" rating to a "hold" rating in a report on Saturday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $259.33.

ResMed Trading Down 0.6%

Shares of RMD traded down $1.57 during mid-day trading on Wednesday, hitting $244.66. The company had a trading volume of 656,927 shares, compared to its average volume of 1,022,908. The stock has a market cap of $35.87 billion, a PE ratio of 28.88, a P/E/G ratio of 1.53 and a beta of 0.78. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The business's 50-day simple moving average is $228.80 and its 200-day simple moving average is $234.18. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results 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. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The firm had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the prior year, the company earned $2.13 EPS. The firm's revenue was up 7.9% on a year-over-year basis. Sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. ResMed's dividend payout ratio (DPR) is 23.79%.

ResMed Company 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.