Healthcare of Ontario Pension Plan Trust Fund Raises Holdings in ResMed Inc. $RMD

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in ResMed Inc. (NYSE:RMD) by 58.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,153 shares of the medical equipment provider’s stock after purchasing an additional 3,383 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in ResMed were worth $2,055,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC lifted its position in ResMed by 17.6% during the fourth quarter. Hsbc Holdings PLC now owns 328,785 shares of the medical equipment provider’s stock valued at $79,321,000 after purchasing an additional 49,253 shares during the period. Goldman Sachs Group Inc. raised its stake in ResMed by 13.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 979,087 shares of the medical equipment provider’s stock valued at $235,833,000 after buying an additional 118,296 shares during the last quarter. Fideuram Asset Management Ireland dac bought a new position in shares of ResMed during the 4th quarter valued at $4,712,000. Legal & General Group Plc boosted its stake in shares of ResMed by 3.6% in the 4th quarter. Legal & General Group Plc now owns 992,527 shares of the medical equipment provider’s stock worth $239,070,000 after buying an additional 34,317 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of ResMed by 23.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,810 shares of the medical equipment provider’s stock worth $5,735,000 after acquiring an additional 4,541 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Up 1.4%

Shares of NYSE RMD opened at $211.39 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.81. The stock has a 50 day moving average price of $198.86 and a 200 day moving average price of $223.58. The firm has a market capitalization of $30.66 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.27 and a beta of 0.78.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the company posted $2.37 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. Sell-side analysts expect that ResMed Inc. will post 11.14 earnings per share for the current year.

Analyst Ratings Changes

RMD has been the topic of several research reports. UBS Group reissued a “buy” rating and issued a $300.00 target price on shares of ResMed in a research report on Tuesday, July 21st. KeyCorp cut their target price on shares of ResMed from $290.00 to $266.00 and set an “overweight” rating for the company in a research report on Monday, June 22nd. Royal Bank Of Canada cut shares of ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 target price for the company. in a report on Thursday, July 16th. Citigroup reissued a “neutral” rating and set a $235.00 price objective (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. Finally, Evercore set a $255.00 price objective on ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. Seven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $246.25.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the completion of the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at $101,893,036.65. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 14,973 shares of company stock worth $3,096,067. Insiders own 0.65% of the company’s stock.

ResMed 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.