Sei Investments Co. Acquires 115,192 Shares of ResMed Inc. (NYSE:RMD)

Sei Investments Co. raised its holdings in ResMed Inc. (NYSE:RMD) by 300.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,525 shares of the medical equipment provider’s stock after purchasing an additional 115,192 shares during the period. Sei Investments Co. owned approximately 0.10% of ResMed worth $35,110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mizuho Securities USA LLC boosted its stake in shares of ResMed by 46.0% in the fourth quarter. Mizuho Securities USA LLC now owns 13,913 shares of the medical equipment provider’s stock valued at $3,182,000 after buying an additional 4,385 shares during the period. Quantbot Technologies LP bought a new stake in shares of ResMed during the 4th quarter valued at $904,000. Summit Global Investments acquired a new stake in shares of ResMed during the 4th quarter worth $290,000. Semanteon Capital Management LP increased its position in shares of ResMed by 5.0% in the fourth quarter. Semanteon Capital Management LP now owns 5,140 shares of the medical equipment provider’s stock worth $1,175,000 after purchasing an additional 243 shares during the period. Finally, Northwest & Ethical Investments L.P. acquired a new position in ResMed in the fourth quarter valued at about $3,025,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $222.95 on Tuesday. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. 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 firm has a market cap of $32.74 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The firm’s fifty day moving average is $234.76 and its 200-day moving average is $238.83.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating 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%. Sell-side analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RMD shares. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday. Morgan Stanley started coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $246.83.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock worth $9,164,385 over the last quarter. Company insiders own 0.71% of the company’s stock.

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.