Milford Funds Ltd. Makes New $28.42 Million Investment in ResMed Inc. $RMD

Milford Funds Ltd. purchased a new position in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 118,000 shares of the medical equipment provider’s stock, valued at approximately $28,423,000. Milford Funds Ltd. owned approximately 0.08% of ResMed as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in RMD. Norges Bank acquired a new position in ResMed during the fourth quarter worth $249,068,000. Deutsche Bank AG increased its position in shares of ResMed by 126.0% during the fourth quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider’s stock worth $340,464,000 after acquiring an additional 787,949 shares during the period. Swedbank AB increased its position in shares of ResMed by 103.1% during the fourth quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock worth $265,553,000 after acquiring an additional 559,765 shares during the period. Bank of New York Mellon Corp increased its position in shares of ResMed by 7.4% during the fourth quarter. Bank of New York Mellon Corp now owns 4,890,654 shares of the medical equipment provider’s stock worth $1,178,012,000 after acquiring an additional 337,738 shares during the period. Finally, First Trust Advisors LP increased its position in shares of ResMed by 285.1% during the third quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider’s stock worth $121,864,000 after acquiring an additional 329,588 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $193.96, for a total value of $968,054.36. Following the completion of the transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at approximately $90,435,013.76. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 16,973 shares of company stock valued at $3,580,754. 0.65% of the stock is owned by insiders.

ResMed Price Performance

Shares of NYSE:RMD opened at $194.52 on Friday. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The company has a market cap of $28.22 billion, a P/E ratio of 18.76, a PEG ratio of 1.23 and a beta of 0.80. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $293.81. The company has a 50-day moving average price of $210.32 and a 200 day moving average price of $235.39.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.37 earnings per share. Research analysts predict that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be given a $0.60 dividend. The ex-dividend date is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. ResMed’s dividend payout ratio (DPR) is presently 23.14%.

Analyst Ratings Changes

RMD has been the topic of a number of recent research reports. Wells Fargo & Company cut their price objective on ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Weiss Ratings lowered ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Robert W. Baird set a $225.00 target price on ResMed in a report on Friday, May 1st. JPMorgan Chase & Co. assumed coverage on shares of ResMed in a research note on Wednesday, April 15th. They issued an “overweight” rating for the company. Finally, Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $286.18.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.