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

KLP Kapitalforvaltning AS acquired a new stake in ResMed Inc. (NYSE:RMD) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 89,250 shares of the medical equipment provider’s stock, valued at approximately $20,411,000.

Other large investors have also bought and sold shares of the company. True Wealth Design LLC lifted 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 valued at $28,000 after buying an additional 110 shares during the period. OFI Invest Asset Management acquired a new position in ResMed in the fourth quarter valued at approximately $39,000. BankPlus Trust Department acquired a new position in ResMed in the fourth quarter valued at approximately $44,000. Rosenberg Matthew Hamilton acquired a new position in ResMed in the fourth quarter valued at approximately $54,000. Finally, SBI Securities Co. Ltd. acquired a new stake in ResMed in the fourth quarter worth $67,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ResMed

In related news, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,940 shares of company stock valued at $9,164,385. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RMD shares. Stifel Nicolaus cut 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 started coverage on shares of ResMed in a report on Wednesday. They issued an “overweight” rating and a $280.00 target price on the stock. The Goldman Sachs Group started coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $246.83.

ResMed Stock Down 0.6 %

Shares of RMD stock opened at $219.77 on Friday. The firm has a fifty day moving average of $234.91 and a 200-day moving average of $239.02. 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 Inc. has a 12-month low of $172.19 and a 12-month high of $263.05. The company has a market capitalization of $32.28 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating 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 research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

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

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.