ResMed Inc. (NYSE:RMD) Holdings Boosted by Tobam

Tobam boosted its position in shares of ResMed Inc. (NYSE:RMD) by 93.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 815 shares of the medical equipment provider’s stock after purchasing an additional 393 shares during the period. Tobam’s holdings in ResMed were worth $140,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RMD. Cambridge Investment Research Advisors Inc. grew its position in ResMed by 15.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,050 shares of the medical equipment provider’s stock worth $740,000 after purchasing an additional 414 shares in the last quarter. Cibc World Market Inc. grew its position in ResMed by 13.0% during the 1st quarter. Cibc World Market Inc. now owns 1,000 shares of the medical equipment provider’s stock worth $243,000 after purchasing an additional 115 shares in the last quarter. Vontobel Holding Ltd. grew its position in ResMed by 14.5% during the 1st quarter. Vontobel Holding Ltd. now owns 8,112 shares of the medical equipment provider’s stock worth $2,020,000 after purchasing an additional 1,025 shares in the last quarter. Sei Investments Co. grew its position in ResMed by 7.8% during the 1st quarter. Sei Investments Co. now owns 40,740 shares of the medical equipment provider’s stock worth $9,781,000 after purchasing an additional 2,955 shares in the last quarter. Finally, Prudential PLC purchased a new position in shares of ResMed during the 1st quarter valued at $694,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. UBS Group boosted their price target on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Mizuho restated a “buy” rating and set a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. Oppenheimer boosted their price target on shares of ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. KeyCorp assumed coverage on shares of ResMed in a report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price target on the stock. Finally, Needham & Company LLC boosted their price target on shares of ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a report on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.20.

ResMed Trading Down 2.2 %

Shares of NYSE:RMD opened at $189.51 on Friday. The firm has a fifty day moving average price of $187.01 and a 200 day moving average price of $168.98. The stock has a market capitalization of $27.88 billion, a PE ratio of 31.32, a P/E/G ratio of 2.40 and a beta of 0.67. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $243.52.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.07. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.66 earnings per share. Analysts expect that ResMed Inc. will post 7.45 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Wednesday, February 7th. ResMed’s dividend payout ratio is currently 31.74%.

Insider Buying and Selling

In related news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Insiders sold 11,216 shares of company stock valued at $2,046,617 over the last quarter. Corporate insiders own 1.21% of the company’s stock.

About ResMed

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.