ResMed Inc. $RMD Shares Purchased by Arbejdsmarkedets Tillaegspension

Key Points

• Arbejdsmarkedets Tillaegspension increased its ResMed stake by 17.7% in the first quarter, adding 16,742 shares to bring its total to 111,091 shares worth about $24.9 million.
• ResMed reported strong quarterly results, with EPS of $2.86 beating estimates and revenue of $1.43 billion topping expectations; revenue also rose 10.8% year over year.
• Shares were trading around $198.38, while analysts currently rate the stock Moderate Buy with a consensus price target of $260.17; the company also pays a quarterly dividend of $0.60 per share.

Arbejdsmarkedets Tillaegspension increased its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 17.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 111,091 shares of the medical equipment provider's stock after buying an additional 16,742 shares during the quarter. Arbejdsmarkedets Tillaegspension owned about 0.08% of ResMed worth $24,938,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in RMD. Terra Nova Asset Management LLC lifted its stake in ResMed by 0.6% in the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider's stock valued at $2,136,000 after buying an additional 46 shares during the last quarter. Occidental Asset Management LLC grew its position in shares of ResMed by 3.0% during the fourth quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider's stock worth $409,000 after acquiring an additional 49 shares during the last quarter. Kera Capital Partners Inc. grew its position in shares of ResMed by 6.6% during the fourth quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider's stock worth $217,000 after acquiring an additional 52 shares during the last quarter. Andina Capital Management LLC increased its holdings in shares of ResMed by 2.9% in the 4th quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider's stock valued at $479,000 after acquiring an additional 56 shares during the period. Finally, Wedmont Private Capital increased its holdings in shares of ResMed by 2.7% in the 4th quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider's stock valued at $542,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $198.38 on Tuesday. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $293.81. The company has a 50-day moving average price of $200.16 and a 200 day moving average price of $227.81. The company has a market cap of $28.78 billion, a P/E ratio of 19.13, a PEG ratio of 1.22 and a beta of 0.78. 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 (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS 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 business had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same period last year, the firm earned $2.37 EPS. The company's quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts predict that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th were given a $0.60 dividend. The ex-dividend date was Thursday, May 14th. This represents a $2.40 annualized dividend and a yield of 1.2%. ResMed's dividend payout ratio is presently 23.14%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Royal Bank Of Canada reduced their price target on shares of ResMed from $321.00 to $276.00 and set an "outperform" rating for the company in a research report on Wednesday, July 8th. Citigroup restated a "neutral" rating and issued a $235.00 price objective (down from $270.00) on shares of ResMed in a research note on Sunday. Jefferies Financial Group reduced their target price on shares of ResMed from $240.00 to $225.00 and set a "hold" rating for the company in a report on Friday. The Goldman Sachs Group reiterated a "buy" rating on shares of ResMed in a research note on Wednesday, July 1st. Finally, KeyCorp lowered their price target on ResMed from $290.00 to $266.00 and set an "overweight" rating on the stock in a report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, ResMed presently has a consensus rating of "Moderate Buy" and a consensus price target of $260.17.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the firm's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total value of $1,090,783.05. Following the completion of the sale, the chief executive officer owned 466,223 shares of the company's stock, valued at approximately $101,893,036.65. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,973 shares of company stock valued at $3,096,067 in the last three months. Corporate 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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