Ownership Capital B.V. Buys 192,434 Shares of ResMed Inc. (NYSE:RMD)

Ownership Capital B.V. raised its stake in shares of ResMed Inc. (NYSE:RMDGet Rating) by 14.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,544,254 shares of the medical equipment provider’s stock after purchasing an additional 192,434 shares during the period. ResMed accounts for 4.9% of Ownership Capital B.V.’s portfolio, making the stock its 10th largest holding. Ownership Capital B.V. owned 1.06% of ResMed worth $374,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RMD. Copeland Capital Management LLC boosted its position in shares of ResMed by 4.8% in the first quarter. Copeland Capital Management LLC now owns 5,473 shares of the medical equipment provider’s stock valued at $1,327,000 after acquiring an additional 253 shares during the period. CIBC Asset Management Inc boosted its position in shares of ResMed by 3.9% in the fourth quarter. CIBC Asset Management Inc now owns 14,838 shares of the medical equipment provider’s stock valued at $3,865,000 after acquiring an additional 552 shares during the period. BlackRock Inc. boosted its position in shares of ResMed by 2.8% in the fourth quarter. BlackRock Inc. now owns 13,048,735 shares of the medical equipment provider’s stock valued at $3,398,935,000 after acquiring an additional 360,161 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of ResMed by 4.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,717 shares of the medical equipment provider’s stock valued at $12,784,000 after acquiring an additional 2,365 shares during the period. Finally, Peloton Wealth Strategists boosted its position in shares of ResMed by 1.3% in the fourth quarter. Peloton Wealth Strategists now owns 6,315 shares of the medical equipment provider’s stock valued at $1,645,000 after acquiring an additional 80 shares during the period. Institutional investors own 65.24% of the company’s stock.

Several research analysts recently commented on the company. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a research report on Thursday, June 16th. Royal Bank of Canada raised ResMed from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $233.00 to $244.00 in a research report on Monday, June 6th. Finally, Wolfe Research began coverage on ResMed in a research report on Tuesday, April 5th. They issued an “outperform” rating and a $280.00 target price for the company. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $260.67.

Shares of NYSE:RMD traded down $3.86 during midday trading on Tuesday, reaching $211.86. The company’s stock had a trading volume of 606 shares, compared to its average volume of 658,889. ResMed Inc. has a fifty-two week low of $189.40 and a fifty-two week high of $301.34. The company has a market capitalization of $30.99 billion, a P/E ratio of 40.63, a P/E/G ratio of 2.06 and a beta of 0.42. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.55 and a quick ratio of 1.56. The business’s fifty day simple moving average is $203.82 and its 200-day simple moving average is $229.61.

ResMed (NYSE:RMDGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The medical equipment provider reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.12). The firm had revenue of $864.50 million during the quarter, compared to analyst estimates of $900.03 million. ResMed had a return on equity of 26.91% and a net margin of 22.02%. ResMed’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 earnings per share. On average, analysts forecast that ResMed Inc. will post 5.74 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, May 12th were given a $0.42 dividend. The ex-dividend date was Wednesday, May 11th. This represents a $1.68 dividend on an annualized basis and a yield of 0.79%. ResMed’s payout ratio is 31.64%.

In other news, CEO Michael J. Farrell sold 5,675 shares of ResMed stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $196.61, for a total transaction of $1,115,761.75. Following the transaction, the chief executive officer now owns 405,260 shares in the company, valued at approximately $79,678,168.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Pendarvis sold 1,545 shares of ResMed stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $209.44, for a total value of $323,584.80. Following the transaction, the insider now owns 108,376 shares in the company, valued at approximately $22,698,269.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,615 shares of company stock worth $6,700,508. Company insiders own 1.42% of the company’s stock.

ResMed Profile (Get Rating)

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 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.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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