PKO Investment Management Joint Stock Co Invests $547,000 in ResMed Inc. $RMD

PKO Investment Management Joint Stock Co acquired a new stake in shares of ResMed Inc. (NYSE:RMD) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,000 shares of the medical equipment provider’s stock, valued at approximately $547,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RMD. Jones Financial Companies Lllp raised its stake in ResMed by 52.6% in the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after buying an additional 994 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of ResMed by 5.5% during the second quarter. Parallel Advisors LLC now owns 1,812 shares of the medical equipment provider’s stock worth $468,000 after acquiring an additional 94 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of ResMed by 1.7% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 69,886 shares of the medical equipment provider’s stock worth $18,031,000 after acquiring an additional 1,147 shares during the last quarter. Czech National Bank increased its holdings in shares of ResMed by 6.2% during the second quarter. Czech National Bank now owns 35,840 shares of the medical equipment provider’s stock valued at $9,247,000 after acquiring an additional 2,107 shares in the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of ResMed in the 2nd quarter valued at approximately $419,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Down 1.1%

RMD stock opened at $254.89 on Wednesday. The firm’s fifty day simple moving average is $248.80 and its 200-day simple moving average is $263.25. The company has a market capitalization of $37.20 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 1.74 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81.

ResMed (NYSE:RMD) last issued its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.06. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 earnings per share. As a group, equities research 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 was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, November 13th. ResMed’s payout ratio is 24.56%.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $248.83, for a total transaction of $497,660.00. Following the sale, the director directly owned 66,773 shares of the company’s stock, valued at $16,615,125.59. This trade represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total value of $1,240,063.86. Following the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $115,837,766.58. This represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 21,594 shares of company stock worth $5,403,495 over the last quarter. 0.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on RMD shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of ResMed in a research note on Monday, December 29th. Royal Bank Of Canada raised their price target on shares of ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Citigroup began coverage on shares of ResMed in a research note on Thursday, September 18th. They set a “buy” rating and a $330.00 price objective for the company. Robert W. Baird reissued a “neutral” rating and issued a $275.00 target price (down from $300.00) on shares of ResMed in a research report on Tuesday, December 16th. Finally, KeyCorp raised their target price on ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average target price of $296.09.

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.