National Pension Service Has $55.58 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

National Pension Service boosted its holdings in shares of ResMed Inc. (NYSE:RMD) by 5.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 227,655 shares of the medical equipment provider’s stock after buying an additional 10,880 shares during the period. National Pension Service’s holdings in ResMed were worth $55,575,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of RMD. Norden Group LLC increased its holdings in shares of ResMed by 85.0% in the 1st quarter. Norden Group LLC now owns 2,590 shares of the medical equipment provider’s stock valued at $513,000 after purchasing an additional 1,190 shares during the period. Central Pacific Bank Trust Division acquired a new position in ResMed in the 1st quarter valued at approximately $404,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in ResMed by 146.0% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,942 shares of the medical equipment provider’s stock worth $979,000 after buying an additional 2,933 shares in the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of ResMed during the 1st quarter valued at $2,246,000. Finally, Signaturefd LLC grew its holdings in shares of ResMed by 4.5% during the 1st quarter. Signaturefd LLC now owns 4,505 shares of the medical equipment provider’s stock valued at $892,000 after acquiring an additional 192 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on RMD. KeyCorp increased their price objective on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Baird R W upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Royal Bank of Canada boosted their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $225.70.

ResMed Price Performance

NYSE RMD opened at $245.74 on Wednesday. ResMed Inc. has a 1 year low of $140.81 and a 1 year high of $260.49. The company has a fifty day simple moving average of $243.06 and a 200 day simple moving average of $221.22. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The company has a market cap of $36.07 billion, a P/E ratio of 32.55, a P/E/G ratio of 1.79 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business posted $1.64 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts predict that ResMed Inc. will post 9.22 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio is currently 28.08%.

Insider Transactions at ResMed

In related news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $212.16, for a total transaction of $212,160.00. Following the transaction, the chief financial officer now owns 89,056 shares of the company’s stock, valued at approximately $18,894,120.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Kaushik Ghoshal sold 4,260 shares of ResMed stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the sale, the insider now owns 21,788 shares of the company’s stock, valued at approximately $5,196,002.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $212.16, for a total value of $212,160.00. Following the sale, the chief financial officer now owns 89,056 shares in the company, valued at approximately $18,894,120.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,260 shares of company stock worth $14,602,647 over the last three months. 0.71% of the stock is currently owned by 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.