Northwest & Ethical Investments L.P. Acquires New Stake in ResMed Inc. (NYSE:RMD)

Northwest & Ethical Investments L.P. acquired a new stake in shares of ResMed Inc. (NYSE:RMD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,226 shares of the medical equipment provider’s stock, valued at approximately $3,025,000.

Other large investors also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its stake in ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares during the period. OFI Invest Asset Management bought a new stake in ResMed during the fourth quarter worth about $39,000. BankPlus Trust Department bought a new stake in ResMed during the fourth quarter worth about $44,000. Rosenberg Matthew Hamilton bought a new stake in ResMed during the fourth quarter worth about $54,000. Finally, SBI Securities Co. Ltd. bought a new stake in ResMed during the fourth quarter worth about $67,000. Institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RMD shares. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Morgan Stanley started coverage on ResMed in a research note on Wednesday. They set an “overweight” rating and a $280.00 price target for the company. JPMorgan Chase & Co. lifted their price target on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group began coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. 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 assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $246.83.

ResMed Stock Performance

ResMed stock opened at $221.13 on Friday. The stock’s 50 day simple moving average is $235.19 and its two-hundred day simple moving average is $239.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock has a market cap of $32.48 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.53 and a beta of 0.74. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05.

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

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.96%. ResMed’s dividend payout ratio is currently 25.03%.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $229.20, for a total value of $1,835,662.80. Following the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $104,394,182.40. The trade was a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 9,725 shares in the company, valued at $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock valued at $9,164,385 in the last ninety days. 0.71% of the stock is currently owned by corporate insiders.

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.