United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Grows Holdings in ResMed Inc. $RMD

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its holdings in ResMed Inc. (NYSE:RMD) by 206.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,420 shares of the medical equipment provider’s stock after acquiring an additional 7,020 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in ResMed were worth $2,510,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RMD. Swedbank AB boosted its position in ResMed by 103.1% during the fourth quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock valued at $265,553,000 after purchasing an additional 559,765 shares in the last quarter. First Trust Advisors LP boosted its holdings in ResMed by 285.1% in the third quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider’s stock worth $121,864,000 after acquiring an additional 329,588 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of ResMed by 2,373.1% during the third quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider’s stock worth $85,126,000 after purchasing an additional 298,412 shares during the period. Nordea Investment Management AB lifted its holdings in shares of ResMed by 37.2% during the fourth quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock worth $262,027,000 after purchasing an additional 294,124 shares during the period. Finally, Vanguard Group Inc. raised its position in ResMed by 1.6% during the third quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock valued at $5,211,940,000 after acquiring an additional 293,515 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RMD shares. Stifel Nicolaus lifted their price target on ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a research report on Friday, January 30th. KeyCorp cut their price objective on ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Evercore set a $255.00 price objective on ResMed and gave the company an “outperform” rating in a research report on Monday, April 13th. Weiss Ratings cut ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Finally, Robert W. Baird set a $225.00 price objective on ResMed in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $286.18.

ResMed Stock Performance

Shares of NYSE:RMD opened at $190.58 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The business’s 50 day moving average price is $216.93 and its 200-day moving average price is $239.34. The firm has a market capitalization of $27.64 billion, a PE ratio of 18.38, a P/E/G ratio of 1.30 and a beta of 0.84. ResMed Inc. has a 1 year low of $190.38 and a 1 year high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.37 earnings per share. As a group, equities research analysts expect that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. ResMed’s payout ratio is currently 23.14%.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $207.82, for a total value of $1,037,229.62. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $96,890,463.86. This represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,973 shares of company stock worth $4,386,031 over the last ninety days. Corporate insiders own 0.65% of the company’s stock.

ResMed 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.