OP Asset Management Ltd Buys New Shares in ResMed Inc. $RMD

OP Asset Management Ltd purchased a new position in ResMed Inc. (NYSE:RMD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,773 shares of the medical equipment provider’s stock, valued at approximately $3,316,000.

A number of other large investors also recently bought and sold shares of RMD. International Assets Investment Management LLC purchased a new stake in shares of ResMed during the 4th quarter worth about $25,000. ORG Partners LLC grew its position in shares of ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 69 shares in the last quarter. Imprint Wealth LLC bought a new stake in shares of ResMed in the 3rd quarter valued at approximately $26,000. WFA of San Diego LLC acquired a new stake in shares of ResMed during the 2nd quarter valued at approximately $26,000. Finally, Sunbelt Securities Inc. bought a new position in ResMed during the third quarter worth $31,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RMD shares. Weiss Ratings cut ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $230.00 target price (down from $286.00) on shares of ResMed in a research note on Wednesday, June 17th. Robert W. Baird set a $225.00 price objective on shares of ResMed in a research note on Friday, May 1st. JPMorgan Chase & Co. started coverage on shares of ResMed in a research note on Wednesday, April 15th. They set an “overweight” rating for the company. Finally, Evercore set a $255.00 price target on shares of ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $270.82.

ResMed Trading Up 1.0%

Shares of NYSE:RMD opened at $200.49 on Friday. The firm has a market cap of $29.08 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 1.28 and a beta of 0.80. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81. The company’s fifty day simple moving average is $203.31 and its 200 day simple moving average is $231.18.

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

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 14th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is currently 23.14%.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $193.96, for a total value of $968,054.36. Following the sale, the chief executive officer owned 466,256 shares in the company, valued at approximately $90,435,013.76. The trade was a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 16,973 shares of company stock worth $3,580,754. 0.65% of the stock is owned by insiders.

ResMed Company 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.