5,006 Shares in ResMed Inc. $RMD Purchased by North Dakota State Investment Board

North Dakota State Investment Board acquired a new position in ResMed Inc. (NYSE:RMD) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 5,006 shares of the medical equipment provider’s stock, valued at approximately $1,206,000.

A number of other hedge funds also recently bought and sold shares of RMD. Swedbank AB increased its position in ResMed by 103.1% during the fourth quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock valued at $265,553,000 after acquiring an additional 559,765 shares during the last quarter. First Trust Advisors LP grew its holdings in ResMed by 285.1% during the third quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider’s stock valued at $121,864,000 after purchasing an additional 329,588 shares during the period. Marshall Wace LLP grew its holdings in ResMed by 2,373.1% during the third quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider’s stock valued at $85,126,000 after purchasing an additional 298,412 shares during the period. Nordea Investment Management AB grew its holdings in ResMed by 37.2% during the fourth quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after purchasing an additional 294,124 shares during the period. Finally, Vanguard Group Inc. grew its holdings in ResMed by 1.6% during the third quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock valued at $5,211,940,000 after purchasing an additional 293,515 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Citigroup dropped their price objective on ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Piper Sandler upped their price objective on ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Robert W. Baird set a $225.00 price objective on ResMed in a research report on Friday, May 1st. Wells Fargo & Company reduced their price target on ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Finally, Weiss Ratings cut ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $286.18.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $251.03, for a total value of $1,252,890.73. Following the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at $117,035,959.69. The trade was a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,973 shares of company stock valued at $4,386,031 in the last quarter. Company insiders own 0.65% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $207.89 on Wednesday. The firm has a market capitalization of $30.28 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.30 and a beta of 0.84. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The business has a fifty day moving average of $222.00 and a 200 day moving average of $241.71. ResMed Inc. has a 1 year low of $198.61 and a 1 year high of $293.81.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $2.37 EPS. As a group, research analysts expect that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Dividend Announcement

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

About ResMed

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.