BI Asset Management Fondsmaeglerselskab A S Increases Stock Holdings in ResMed Inc. (NYSE:RMD)

BI Asset Management Fondsmaeglerselskab A S lifted its position in ResMed Inc. (NYSE:RMD - Free Report) by 1,142.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,076 shares of the medical equipment provider's stock after buying an additional 70,871 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.05% of ResMed worth $17,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in shares of ResMed during the 4th quarter valued at $39,000. BankPlus Trust Department purchased a new stake in ResMed in the fourth quarter worth about $44,000. Rosenberg Matthew Hamilton bought a new position in shares of ResMed in the fourth quarter worth about $54,000. SBI Securities Co. Ltd. purchased a new position in shares of ResMed during the 4th quarter valued at about $67,000. Finally, Kentucky Trust Co bought a new position in shares of ResMed during the 4th quarter valued at approximately $82,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Activity at ResMed

In other news, insider Kaushik Ghoshal sold 9,113 shares of the company'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 value of $2,145,200.20. Following the completion of the sale, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now directly owns 77,218 shares in the company, valued at approximately $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 quarter, insiders sold 49,013 shares of company stock worth $11,298,816. Company insiders own 0.71% of the company's stock.

ResMed Trading Up 10.1 %

NYSE RMD traded up $21.67 during trading on Thursday, hitting $236.11. The stock had a trading volume of 2,257,924 shares, compared to its average volume of 1,030,065. ResMed Inc. has a one year low of $179.00 and a one year high of $263.05. The stock has a 50 day simple moving average of $221.75 and a 200 day simple moving average of $234.03. The stock has a market capitalization of $34.68 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 1.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.37. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Sell-side analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.90%. ResMed's dividend payout ratio (DPR) is 25.03%.

Analyst Ratings Changes

Several brokerages have weighed in on RMD. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. KeyCorp set a $274.00 target price on shares of ResMed in a report on Thursday. The Goldman Sachs Group started coverage on shares of ResMed in a research note on Thursday, January 16th. They set a "buy" rating for the company. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a research note on Friday, January 31st. Finally, Morgan Stanley assumed coverage on ResMed in a research report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, ResMed presently has a consensus rating of "Moderate Buy" and a consensus price target of $254.31.

About ResMed

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.