1,630 Shares in ResMed Inc. (NYSE:RMD) Purchased by Allianz SE

Allianz SE bought a new stake in ResMed Inc. (NYSE:RMD) during the 4th quarter, Holdings Channel reports. The firm bought 1,630 shares of the medical equipment provider’s stock, valued at approximately $373,000.

Several other hedge funds have also made changes to their positions in RMD. True Wealth Design LLC grew its position 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 during the period. OFI Invest Asset Management acquired a new position in shares of ResMed in the 4th quarter valued at $39,000. BankPlus Trust Department purchased a new position in shares of ResMed during the 4th quarter worth $44,000. Rosenberg Matthew Hamilton purchased a new position in shares of ResMed during the 4th quarter worth $54,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of ResMed during the 4th quarter worth about $67,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

RMD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Morgan Stanley began coverage on ResMed in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 target price for the company. Finally, Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.73.

ResMed Trading Down 1.2 %

NYSE:RMD opened at $219.85 on Monday. The company has a market capitalization of $32.29 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The stock has a fifty day simple moving average of $233.70 and a 200-day simple moving average of $238.02. 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 (NYSE:RMD) last issued its quarterly earnings data 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 return on equity of 26.17% and a net margin of 25.34%. On average, equities research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. ResMed’s dividend payout ratio is currently 25.03%.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of ResMed stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now directly owns 9,725 shares in the company, valued at $2,327,289.75. The trade was a 50.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was 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 $18,695,249.98. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is owned by insiders.

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.