ResMed Inc. (NYSE:RMD) Stake Increased by C WorldWide Group Holding A S

C WorldWide Group Holding A S lifted its holdings in ResMed Inc. (NYSE:RMD) by 37.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,309 shares of the medical equipment provider’s stock after buying an additional 26,528 shares during the period. C WorldWide Group Holding A S owned about 0.07% of ResMed worth $16,911,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in ResMed by 224.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 128 shares in the last quarter. Operose Advisors LLC acquired a new stake in shares of ResMed during the third quarter worth approximately $32,000. Planned Solutions Inc. purchased a new position in ResMed during the fourth quarter valued at approximately $34,000. MV Capital Management Inc. increased its stake in ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 60 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in ResMed in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on RMD. Mizuho reaffirmed a “buy” rating and issued a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. Needham & Company LLC raised their price target on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price target on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Royal Bank of Canada increased their price objective on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, KeyCorp lifted their target price on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $202.80.

ResMed Stock Performance

ResMed stock traded up $34.64 during trading hours on Friday, hitting $218.06. The stock had a trading volume of 4,330,840 shares, compared to its average volume of 1,052,924. The company has a 50-day moving average of $187.07 and a two-hundred day moving average of $171.97. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $243.52. The company has a market cap of $32.07 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.91 by $0.22. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a return on equity of 24.92% and a net margin of 20.91%. ResMed’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $1.68 earnings per share. On average, equities research analysts anticipate that ResMed Inc. will post 7.44 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors 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 yield of 0.88%. ResMed’s payout ratio is currently 29.49%.

Insider Buying and Selling

In other news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the transaction, the general counsel now owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders sold 11,216 shares of company stock valued at $2,046,617 over the last quarter. Corporate insiders own 1.21% of the company’s stock.

About ResMed

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.