National Bank of Canada FI Grows Stake in ResMed Inc. (NYSE:RMD)

National Bank of Canada FI lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 11.1% in the 4th quarter, HoldingsChannel reports. The firm owned 38,194 shares of the medical equipment provider’s stock after buying an additional 3,802 shares during the quarter. National Bank of Canada FI’s holdings in ResMed were worth $6,561,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Handelsbanken Fonder AB grew its holdings in ResMed by 22.5% during the fourth quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock valued at $12,088,000 after purchasing an additional 12,899 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ResMed by 13.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock valued at $7,781,000 after buying an additional 5,517 shares during the last quarter. Vaughan David Investments LLC IL bought a new position in shares of ResMed during the 4th quarter worth $29,322,000. ICW Investment Advisors LLC increased its holdings in ResMed by 2.3% in the 4th quarter. ICW Investment Advisors LLC now owns 11,303 shares of the medical equipment provider’s stock worth $1,944,000 after acquiring an additional 249 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in ResMed by 647.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 13,491 shares of the medical equipment provider’s stock valued at $2,321,000 after acquiring an additional 11,685 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research reports. Needham & Company LLC increased their target price on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Royal Bank of Canada raised their price objective on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. UBS Group boosted their target price on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. KeyCorp raised their price target on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Mizuho reiterated a “buy” rating and set a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus price target of $202.80.

ResMed Stock Up 1.9 %

RMD opened at $216.95 on Friday. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The business’s fifty day simple moving average is $193.54 and its 200 day simple moving average is $176.56. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $237.26. The stock has a market cap of $31.87 billion, a PE ratio of 33.32, a P/E/G ratio of 2.68 and a beta of 0.64.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. ResMed’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.68 EPS. As a group, research analysts expect that ResMed Inc. will post 7.59 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s dividend payout ratio (DPR) is 29.49%.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the transaction, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at $95,422,808. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total value of $3,178,869.50. Following the transaction, the chief executive officer now owns 440,752 shares in the company, valued at $95,422,808. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,324 shares of company stock valued at $5,316,828. Insiders own 1.21% of the company’s stock.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.