KLP Kapitalforvaltning AS Takes Position in ResMed Inc. (NYSE:RMD)

KLP Kapitalforvaltning AS bought a new position in ResMed Inc. (NYSE:RMD - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 89,250 shares of the medical equipment provider's stock, valued at approximately $20,411,000. KLP Kapitalforvaltning AS owned 0.06% of ResMed at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of RMD. Howard Capital Management Inc. lifted its holdings in ResMed by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock worth $206,000 after buying an additional 45 shares during the period. Ascent Group LLC lifted its stake in shares of ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider's stock valued at $714,000 after purchasing an additional 48 shares during the period. SkyView Investment Advisors LLC lifted its stake in shares of ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider's stock valued at $637,000 after purchasing an additional 51 shares during the period. Wedmont Private Capital boosted its position in shares of ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider's stock valued at $475,000 after purchasing an additional 52 shares in the last quarter. Finally, Brooklyn Investment Group grew its stake in ResMed by 8.1% in the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider's stock worth $208,000 after purchasing an additional 68 shares during the period. Institutional investors own 54.98% of the company's stock.

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ResMed Stock Performance

Shares of NYSE RMD traded up $0.74 during trading on Thursday, reaching $222.62. 484,081 shares of the company traded hands, compared to its average volume of 950,963. The firm has a 50 day simple moving average of $234.39 and a 200-day simple moving average of $238.55. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The stock has a market capitalization of $32.69 billion, a PE ratio of 26.28, a P/E/G ratio of 1.53 and a beta of 0.74. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

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

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Thursday, February 13th. ResMed's dividend payout ratio (DPR) is presently 25.03%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RMD. Stifel Nicolaus dropped their target price on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. Morgan Stanley initiated coverage on shares of ResMed in a report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of ResMed in a report on Thursday, January 16th. They set a "buy" rating for the company. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lifted their price objective on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $246.83.

Insider Buying and Selling at ResMed

In related news, insider Kaushik Ghoshal sold 9,113 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares in the company, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is owned by company insiders.

ResMed Company 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.