OMERS ADMINISTRATION Corp Decreases Holdings in ResMed Inc. (NYSE:RMD)

OMERS ADMINISTRATION Corp cut its holdings in shares of ResMed Inc. (NYSE:RMD) by 17.5% during the 4th quarter, HoldingsChannel reports. The fund owned 11,871 shares of the medical equipment provider’s stock after selling 2,518 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in ResMed were worth $2,715,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RMD. Colonial Trust Co SC increased its stake in shares of ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 125 shares during the period. Optiver Holding B.V. purchased a new position in shares of ResMed in the fourth quarter worth $33,000. Itau Unibanco Holding S.A. increased its stake in shares of ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after buying an additional 150 shares during the period. OFI Invest Asset Management purchased a new position in shares of ResMed in the fourth quarter worth $39,000. Finally, Coppell Advisory Solutions LLC increased its stake in shares of ResMed by 1,750.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 175 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Performance

Shares of RMD stock opened at $246.63 on Thursday. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05. The stock has a market cap of $36.16 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average price is $224.59 and its 200-day moving average price is $234.16.

ResMed (NYSE:RMD) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.01. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business posted $2.13 EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Thursday, May 8th. ResMed’s dividend payout ratio (DPR) is presently 23.79%.

Wall Street Analyst Weigh In

Several research analysts recently commented on RMD shares. JPMorgan Chase & Co. lifted their target price on shares of ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Royal Bank of Canada lifted their target price on shares of ResMed from $247.00 to $255.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 24th. The Goldman Sachs Group started coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, Morgan Stanley assumed coverage on shares of ResMed in a report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.83.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $243.23, for a total value of $1,948,029.07. Following the completion of the transaction, the chief executive officer now owns 455,503 shares of the company’s stock, valued at $110,791,994.69. The trade was a 1.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. This represents a 48.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,949 shares of company stock worth $11,335,320. Corporate insiders own 0.71% 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. 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.