Elo Mutual Pension Insurance Co Has $3.48 Million Stock Position in ResMed Inc. (NYSE:RMD)

Elo Mutual Pension Insurance Co boosted its position in ResMed Inc. (NYSE:RMD - Free Report) by 17.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,229 shares of the medical equipment provider's stock after acquiring an additional 2,261 shares during the period. Elo Mutual Pension Insurance Co's holdings in ResMed were worth $3,483,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RMD. True Wealth Design LLC boosted its holdings in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 110 shares in the last quarter. OFI Invest Asset Management bought a new stake in ResMed during the fourth quarter valued at about $39,000. BankPlus Trust Department purchased a new stake in ResMed in the 4th quarter worth approximately $44,000. Rosenberg Matthew Hamilton purchased a new stake in shares of ResMed in the fourth quarter worth $54,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of ResMed in the fourth quarter valued at about $67,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday, March 25th. KeyCorp raised their price target on shares of ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $249.73.

Remove Ads

ResMed Price Performance

RMD stock traded down $2.10 on Tuesday, reaching $221.75. 341,861 shares of the company's stock were exchanged, compared to its average volume of 1,000,955. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $233.37 and a 200-day moving average of $237.83. The firm has a market cap of $32.57 billion, a PE ratio of 26.14, a P/E/G ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, equities analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.96%. ResMed's dividend payout ratio (DPR) is currently 25.03%.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total value of $455,420.00. Following the transaction, the director now directly owns 75,218 shares in the company, valued at approximately $17,127,890.78. This trade represents a 2.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is currently owned by company insiders.

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.