ResMed Inc. $RMD Holdings Lifted by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 6,921.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,862 shares of the medical equipment provider’s stock after buying an additional 3,807 shares during the period. Global X Japan Co. Ltd.’s holdings in ResMed were worth $930,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Terra Nova Asset Management LLC boosted its position in ResMed by 0.6% during the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after acquiring an additional 46 shares during the period. NBT Bank N A NY lifted its holdings in ResMed by 22.9% in the third quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock worth $69,000 after purchasing an additional 47 shares during the period. OFI Invest Asset Management lifted its holdings in ResMed by 10.4% in the third quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock worth $139,000 after purchasing an additional 48 shares during the period. IMA Advisory Services Inc. grew its position in ResMed by 52.7% in the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 48 shares in the last quarter. Finally, Occidental Asset Management LLC increased its stake in ResMed by 3.0% during the 4th quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock valued at $409,000 after buying an additional 49 shares during the period. 54.98% of the stock is owned by institutional investors.

ResMed Stock Down 1.8%

ResMed stock opened at $222.22 on Friday. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The firm has a market cap of $32.37 billion, a PE ratio of 21.98, a P/E/G ratio of 1.50 and a beta of 0.88. The firm’s 50 day moving average price is $250.50 and its two-hundred day moving average price is $255.56.

ResMed (NYSE:RMD) last issued its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business posted $2.43 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th were paid a $0.60 dividend. The ex-dividend date was Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a yield of 1.1%. ResMed’s payout ratio is 23.74%.

Analysts Set New Price Targets

RMD has been the subject of a number of research analyst reports. UBS Group reaffirmed a “buy” rating and issued a $345.00 price target on shares of ResMed in a research note on Friday, December 12th. Stifel Nicolaus raised their price objective on shares of ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Robert W. Baird set a $281.00 target price on ResMed in a report on Friday, January 30th. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, KeyCorp restated an “overweight” rating and issued a $302.00 price objective on shares of ResMed in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, ResMed has an average rating of “Moderate Buy” and an average price target of $299.27.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total transaction of $520,440.00. Following the completion of the sale, the director directly owned 62,773 shares of the company’s stock, valued at $16,334,790.06. This trade represents a 3.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $115,837,766.58. The trade was a 1.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 21,073 shares of company stock worth $5,405,198. Insiders own 0.65% of the company’s stock.

About ResMed

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.