Harvest Fund Management Co. Ltd Has $379,000 Stake in ResMed Inc. (NYSE:RMD)

Harvest Fund Management Co. Ltd boosted its position in shares of ResMed Inc. (NYSE:RMD) by 67.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,656 shares of the medical equipment provider’s stock after acquiring an additional 665 shares during the period. Harvest Fund Management Co. Ltd’s holdings in ResMed were worth $379,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd lifted its position in ResMed by 139.5% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 46,584 shares of the medical equipment provider’s stock worth $10,653,000 after acquiring an additional 27,132 shares during the last quarter. Generali Asset Management SPA SGR acquired a new position in ResMed during the 4th quarter worth $4,196,000. Axxcess Wealth Management LLC lifted its position in ResMed by 63.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 9,969 shares of the medical equipment provider’s stock worth $2,280,000 after acquiring an additional 3,853 shares during the last quarter. Parallel Advisors LLC lifted its position in ResMed by 6.4% during the 4th quarter. Parallel Advisors LLC now owns 1,697 shares of the medical equipment provider’s stock worth $388,000 after acquiring an additional 102 shares during the last quarter. Finally, Cibc World Markets Corp lifted its position in ResMed by 15.8% during the 4th quarter. Cibc World Markets Corp now owns 23,141 shares of the medical equipment provider’s stock worth $5,292,000 after acquiring an additional 3,164 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by insiders.

ResMed Price Performance

Shares of ResMed stock opened at $219.77 on Friday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $32.28 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05. The firm’s 50-day moving average price is $234.91 and its two-hundred day moving average price is $239.06.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, equities analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.96%. ResMed’s dividend payout ratio is 25.03%.

Analyst Ratings Changes

A number of research analysts have recently commented on RMD shares. JPMorgan Chase & Co. upped their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. The Goldman Sachs Group started coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. Stifel Nicolaus cut their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Finally, Morgan Stanley started coverage on shares of ResMed in a research report on Wednesday. They set an “overweight” rating and a $280.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $246.83.

ResMed 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.