Employees Provident Fund Board Purchases Shares of 358,101 ResMed Inc. $RMD

Employees Provident Fund Board bought a new stake in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 358,101 shares of the medical equipment provider’s stock, valued at approximately $86,256,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of ResMed in the 4th quarter valued at about $25,000. ORG Partners LLC boosted its stake in 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 period. Imprint Wealth LLC bought a new stake in shares of ResMed in the third quarter valued at about $26,000. WFA of San Diego LLC acquired a new position in shares of ResMed during the 2nd quarter worth approximately $26,000. Finally, Sunbelt Securities Inc. bought a new position in ResMed during the 3rd quarter worth $31,000. 54.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RMD shares. Royal Bank Of Canada raised their target price on shares of ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Citigroup dropped their target price on ResMed from $340.00 to $270.00 and set a “buy” rating for the company in a research report on Monday, June 15th. KeyCorp cut their price target on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a report on Monday, April 27th. Weiss Ratings lowered ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. Finally, Robert W. Baird set a $225.00 price target on shares of ResMed in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.00.

ResMed Stock Performance

RMD opened at $188.83 on Friday. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.81. The company has a market cap of $27.39 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.20 and a beta of 0.80. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average price is $206.74 and its two-hundred day moving average price is $233.16.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.42 billion. During the same quarter in the previous year, the business earned $2.37 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts expect that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 14th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, May 14th. This represents a $2.40 annualized dividend and a yield of 1.3%. ResMed’s payout ratio is 23.14%.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $193.96, for a total transaction of $968,054.36. Following the transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at $90,435,013.76. This represents a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,973 shares of company stock worth $3,580,754 in the last 90 days. Company 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.