National Bank of Canada FI Buys 3,802 Shares of ResMed Inc. (NYSE:RMD)

National Bank of Canada FI boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 11.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 38,194 shares of the medical equipment provider’s stock after buying an additional 3,802 shares during the period. National Bank of Canada FI’s holdings in ResMed were worth $6,561,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RMD. Handelsbanken Fonder AB lifted its holdings in shares of ResMed by 22.5% in the 4th quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after acquiring an additional 12,899 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of ResMed by 13.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock worth $7,781,000 after buying an additional 5,517 shares during the period. Vaughan David Investments LLC IL bought a new stake in shares of ResMed during the 4th quarter worth approximately $29,322,000. ICW Investment Advisors LLC grew its position in ResMed by 2.3% in the 4th quarter. ICW Investment Advisors LLC now owns 11,303 shares of the medical equipment provider’s stock valued at $1,944,000 after acquiring an additional 249 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in ResMed by 647.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 13,491 shares of the medical equipment provider’s stock worth $2,321,000 after purchasing an additional 11,685 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RMD shares. Royal Bank of Canada boosted their price target on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. UBS Group boosted their price target on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Oppenheimer cut their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. KeyCorp increased their price target on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Finally, Needham & Company LLC boosted their price target on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus price target of $202.80.

ResMed Trading Up 1.9 %

Shares of RMD stock opened at $216.95 on Friday. The stock has a market capitalization of $31.87 billion, a P/E ratio of 33.32, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The company has a 50 day moving average price of $193.54 and a 200 day moving average price of $176.56. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $237.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company earned $1.68 EPS. ResMed’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts predict that ResMed Inc. will post 7.59 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s dividend payout ratio is presently 29.49%.

Insider Activity

In related news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the firm’s 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 transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total value of $3,178,869.50. Following the completion of the sale, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at $95,422,808. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,324 shares of company stock worth $5,316,828. 1.21% of the stock is currently owned by corporate insiders.

ResMed Profile

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.