National Bank of Canada FI Has $6.56 Million Stake in ResMed Inc. (NYSE:RMD)

National Bank of Canada FI raised its stake in ResMed Inc. (NYSE:RMD - Free Report) by 11.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,194 shares of the medical equipment provider's stock after buying an additional 3,802 shares during the quarter. National Bank of Canada FI's holdings in ResMed were worth $6,561,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in shares of ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 128 shares during the period. Planned Solutions Inc. purchased a new position in ResMed in the fourth quarter valued at $34,000. MV Capital Management Inc. lifted its holdings in ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider's stock worth $37,000 after buying an additional 60 shares during the last quarter. Operose Advisors LLC acquired a new position in shares of ResMed during the 3rd quarter worth about $32,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of ResMed in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

ResMed Price Performance

NYSE:RMD traded down $3.02 during mid-day trading on Friday, hitting $213.82. 635,170 shares of the company's stock traded hands, compared to its average volume of 1,338,683. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. The company has a market cap of $31.41 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The firm's 50 day simple moving average is $194.32 and its 200 day simple moving average is $177.03. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $237.26.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating analysts' consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. ResMed's quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that ResMed Inc. will post 7.59 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed's dividend payout ratio (DPR) is 29.49%.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total value of $3,178,869.50. Following the completion of the sale, the chief executive officer now owns 440,752 shares in the company, valued at approximately $95,422,808. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Michael J. Rider sold 200 shares of the firm's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares of the company's stock, valued at approximately $1,158,696. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of the company's stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total value of $3,178,869.50. Following the completion of the sale, the chief executive officer now directly owns 440,752 shares of the company's stock, valued at approximately $95,422,808. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,324 shares of company stock worth $5,316,828. 1.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RMD shares. KeyCorp boosted their price target on shares of ResMed from $227.00 to $238.00 and gave the company an "overweight" rating in a research report on Friday, April 26th. Needham & Company LLC increased their price target on ResMed from $224.00 to $236.00 and gave the stock a "buy" rating in a report on Friday, April 26th. Oppenheimer dropped their price objective on shares of ResMed from $205.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, April 26th. UBS Group raised their target price on shares of ResMed from $175.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, January 25th. Finally, Mizuho reiterated a "buy" rating and set a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, ResMed has an average rating of "Moderate Buy" and a consensus target price of $202.80.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.