OFI Invest Asset Management Acquires New Stake in ResMed Inc. (NYSE:RMD)

OFI Invest Asset Management acquired a new stake in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 175 shares of the medical equipment provider’s stock, valued at approximately $39,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC increased its holdings in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares during the period. Ashton Thomas Securities LLC acquired a new stake in ResMed in the third quarter valued at $34,000. BankPlus Trust Department acquired a new stake in ResMed in the fourth quarter valued at $44,000. Rosenberg Matthew Hamilton acquired a new stake in ResMed in the fourth quarter valued at $54,000. Finally, SBI Securities Co. Ltd. acquired a new stake in ResMed in the fourth quarter valued at $67,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Price Performance

RMD stock opened at $237.42 on Tuesday. The stock has a market capitalization of $34.87 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company’s 50-day moving average is $236.86 and its 200-day moving average is $240.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s dividend payout ratio is presently 25.03%.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total transaction of $455,420.00. Following the sale, the director now owns 75,218 shares of the company’s stock, valued at approximately $17,127,890.78. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,186 shares of company stock worth $4,996,646 in the last quarter. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. KeyCorp upped their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Stifel Nicolaus cut their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group initiated coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $243.82.

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.