ResMed Inc. $RMD Shares Purchased by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS boosted its ResMed stake by 35.5% in Q4, buying 32,400 shares to hold 123,650 shares worth about $29.78 million (≈0.08% of the company).
• Insiders have been net sellers recently — 21,023 shares were sold in the last three months (≈$5.23 million), including Director Peter C. Farrell (2,000 shares at $225) and CEO Michael J. Farrell (4,991 shares at $273.78); insiders now own 0.65% of the stock.
• ResMed beat Q earnings and revenue expectations (EPS $2.81 vs. $2.68 est.; revenue $1.42B, +11% YoY), trades at a market cap of $32.34B with a P/E ~21.96, pays a $0.60 quarterly dividend (1.1% yield), and has a consensus rating of Moderate Buy with an average target of ~$295.

KLP Kapitalforvaltning AS boosted its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 35.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,650 shares of the medical equipment provider's stock after purchasing an additional 32,400 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.08% of ResMed worth $29,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. increased its stake in ResMed by 1,433.3% in the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 86 shares during the last quarter. Imprint Wealth LLC acquired a new position in shares of ResMed in the 3rd quarter valued at $26,000. WFA of San Diego LLC acquired a new position in shares of ResMed in the 2nd quarter valued at $26,000. ORG Partners LLC boosted its holdings in shares of 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 purchasing an additional 69 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of ResMed in the 3rd quarter valued at $31,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the firm's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $127,642,532.94. This represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 21,023 shares of company stock worth $5,230,857. Insiders own 0.65% of the company's stock.

ResMed Stock Performance

Shares of RMD stock opened at $222.01 on Thursday. The company's fifty day simple moving average is $237.70 and its 200-day simple moving average is $249.06. ResMed Inc. has a 52 week low of $210.34 and a 52 week high of $293.81. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The company has a market cap of $32.34 billion, a PE ratio of 21.96, a P/E/G ratio of 1.46 and a beta of 0.93.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the firm posted $2.43 EPS. The business's revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities research analysts anticipate that ResMed Inc. will post 11.05 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, February 12th. ResMed's dividend payout ratio (DPR) is currently 23.74%.

Analyst Ratings Changes

RMD has been the topic of a number of research analyst reports. KeyCorp reiterated an "overweight" rating and issued a $302.00 price target on shares of ResMed in a report on Friday, January 30th. JPMorgan Chase & Co. initiated coverage on shares of ResMed in a report on Wednesday, April 15th. They issued an "overweight" rating on the stock. Evercore set a $255.00 price target on shares of ResMed and gave the company an "outperform" rating in a report on Monday, April 13th. Piper Sandler lifted their price target on shares of ResMed from $270.00 to $275.00 and gave the company a "neutral" rating in a report on Friday, January 30th. Finally, Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $295.17.

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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