Board of the Pension Protection Fund Makes New Investment in ResMed Inc. (NYSE:RMD)

Board of the Pension Protection Fund purchased a new position in ResMed Inc. (NYSE:RMD) in the fourth quarter, Holdings Channel reports. The fund purchased 4,000 shares of the medical equipment provider’s stock, valued at approximately $915,000.

A number of other hedge funds also recently bought and sold shares of RMD. Private Advisor Group LLC increased its holdings in ResMed by 15.1% in the 2nd quarter. Private Advisor Group LLC now owns 3,071 shares of the medical equipment provider’s stock worth $588,000 after acquiring an additional 402 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of ResMed by 471.6% in the second quarter. Acadian Asset Management LLC now owns 3,681 shares of the medical equipment provider’s stock valued at $704,000 after purchasing an additional 3,037 shares during the period. Quest Partners LLC raised its position in shares of ResMed by 44.1% during the 2nd quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 100 shares during the last quarter. American Century Companies Inc. lifted its stake in ResMed by 17.7% in the 2nd quarter. American Century Companies Inc. now owns 30,874 shares of the medical equipment provider’s stock valued at $5,910,000 after buying an additional 4,639 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in ResMed by 7.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,177 shares of the medical equipment provider’s stock worth $1,948,000 after buying an additional 674 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on RMD. Stifel Nicolaus started coverage on ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 target price for the company. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Baird R W upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Piper Sandler initiated coverage on shares of ResMed in a report on Friday, January 10th. They set a “neutral” rating and a $252.00 target price for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $233.09.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total value of $497,480.00. Following the completion of the sale, the director now directly owns 83,204 shares of the company’s stock, valued at approximately $20,696,162.96. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,099 shares of company stock worth $2,719,385. 0.71% of the stock is currently owned by insiders.

ResMed Stock Down 0.7 %

RMD stock opened at $228.61 on Wednesday. The firm has a market cap of $33.56 billion, a PE ratio of 30.28, a PEG ratio of 1.73 and a beta of 0.70. ResMed Inc. has a one year low of $168.29 and a one year high of $260.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The firm’s 50 day moving average price is $239.24 and its 200-day moving average price is $232.06.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.64 EPS. On average, equities research analysts anticipate that ResMed Inc. will post 9.34 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Thursday, November 7th. ResMed’s dividend payout ratio is presently 28.08%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.