National Pension Service Purchases 1,652 Shares of ResMed Inc. $RMD

National Pension Service grew its position in ResMed Inc. (NYSE:RMD) by 0.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 232,873 shares of the medical equipment provider’s stock after acquiring an additional 1,652 shares during the period. National Pension Service’s holdings in ResMed were worth $60,081,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Zions Bancorporation National Association UT bought a new stake in shares of ResMed during the first quarter worth $45,000. Groupe la Francaise acquired a new stake in shares of ResMed during the 1st quarter worth approximately $45,000. Harbour Investments Inc. raised its stake in shares of ResMed by 264.2% during the second quarter. Harbour Investments Inc. now owns 244 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 177 shares during the last quarter. Larson Financial Group LLC raised its position in shares of ResMed by 926.7% during the 1st quarter. Larson Financial Group LLC now owns 308 shares of the medical equipment provider’s stock valued at $69,000 after acquiring an additional 278 shares during the last quarter. Finally, Quarry LP boosted its holdings in ResMed by 141.1% during the first quarter. Quarry LP now owns 311 shares of the medical equipment provider’s stock worth $70,000 after buying an additional 182 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RMD. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ResMed in a research report on Wednesday, October 8th. Morgan Stanley set a $305.00 target price on ResMed in a research report on Friday, October 31st. William Blair raised shares of ResMed to a “strong-buy” rating in a research note on Friday, August 1st. Mizuho lowered their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Finally, Citigroup began coverage on ResMed in a report on Thursday, September 18th. They issued a “buy” rating and a $330.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.45.

Insider Buying and Selling at ResMed

In other ResMed news, Director Witte Jan De sold 487 shares of ResMed stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $250.25, for a total value of $121,871.75. Following the transaction, the director owned 5,319 shares in the company, valued at $1,331,079.75. The trade was a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Michael J. Rider sold 100 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the transaction, the general counsel owned 11,327 shares of the company’s stock, valued at approximately $3,107,675.72. This represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 21,182 shares of company stock worth $5,658,783 over the last quarter. 0.65% of the stock is currently owned by company insiders.

ResMed Trading Down 0.4%

RMD stock opened at $251.91 on Friday. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The stock has a market cap of $36.76 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87. The company has a fifty day moving average price of $266.91 and a two-hundred day moving average price of $262.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.20 EPS. Equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed’s dividend payout ratio is 24.56%.

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.