KLP Kapitalforvaltning AS Makes New $20.41 Million Investment in ResMed Inc. (NYSE:RMD)

KLP Kapitalforvaltning AS bought a new position in shares of ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 89,250 shares of the medical equipment provider’s stock, valued at approximately $20,411,000. KLP Kapitalforvaltning AS owned about 0.06% of ResMed at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RMD. Thrivent Financial for Lutherans lifted its position in ResMed by 12.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock worth $1,697,000 after acquiring an additional 755 shares during the last quarter. Quest Partners LLC raised its position in shares of ResMed by 472.5% during the third quarter. Quest Partners LLC now owns 1,872 shares of the medical equipment provider’s stock valued at $457,000 after buying an additional 1,545 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of ResMed during the third quarter valued at about $1,715,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of ResMed by 435.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,594 shares of the medical equipment provider’s stock valued at $5,760,000 after buying an additional 19,184 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of ResMed by 233.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 74,369 shares of the medical equipment provider’s stock valued at $18,155,000 after buying an additional 52,046 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the company’s 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 transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of the company’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 transaction, the director now owns 75,218 shares in the company, valued at $17,127,890.78. The trade was a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,940 shares of company stock worth $9,164,385. Corporate insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

RMD has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated 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. 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. Morgan Stanley assumed 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. Finally, KeyCorp upped their target price on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $246.83.

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 $239.02.

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 Dividend Announcement

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%.

About ResMed

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.