PBU The Pension Fund of Early Childhood & Youth Educators Makes New $7.93 Million Investment in ResMed Inc. $RMD

PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 32,933 shares of the medical equipment provider’s stock, valued at approximately $7,933,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RMD. Norges Bank bought a new stake in shares of ResMed during the fourth quarter worth $249,068,000. Swedbank AB grew its stake in shares of ResMed by 103.1% in the fourth quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock worth $265,553,000 after purchasing an additional 559,765 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of ResMed by 7.4% in the fourth quarter. Bank of New York Mellon Corp now owns 4,890,654 shares of the medical equipment provider’s stock worth $1,178,012,000 after purchasing an additional 337,738 shares during the last quarter. First Trust Advisors LP grew its stake in shares of ResMed by 285.1% in the third quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider’s stock worth $121,864,000 after purchasing an additional 329,588 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of ResMed by 2,373.1% in the third quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider’s stock worth $85,126,000 after purchasing an additional 298,412 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RMD shares. Evercore set a $255.00 price objective on shares of ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. Citigroup reduced their price objective on shares of ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Wells Fargo & Company reduced their price objective on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. initiated coverage on ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.18.

ResMed Stock Performance

Shares of RMD opened at $195.95 on Friday. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $28.42 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80. The firm’s fifty day simple moving average is $213.11 and its two-hundred day simple moving average is $237.21. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.37 earnings per share. As a group, analysts predict that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. ResMed’s dividend payout ratio is 23.14%.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $96,890,463.86. This trade represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,973 shares of company stock worth $3,865,591 in the last ninety days. Insiders own 0.65% of the company’s stock.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.