Elo Mutual Pension Insurance Co Grows Stake in ResMed Inc. (NYSE:RMD)

Elo Mutual Pension Insurance Co lifted its holdings in ResMed Inc. (NYSE:RMD) by 17.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,229 shares of the medical equipment provider’s stock after purchasing an additional 2,261 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in ResMed were worth $3,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of RMD. Howard Capital Management Inc. increased its position in ResMed by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock valued at $206,000 after acquiring an additional 45 shares during the last quarter. Ascent Group LLC boosted its holdings in ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after buying an additional 48 shares during the period. SkyView Investment Advisors LLC increased its stake in ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after buying an additional 51 shares in the last quarter. Wedmont Private Capital lifted its position in shares of ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after acquiring an additional 52 shares in the last quarter. Finally, Brooklyn Investment Group boosted its stake in shares of ResMed by 8.1% in the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock worth $208,000 after acquiring an additional 68 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

NYSE:RMD opened at $219.85 on Friday. The company has a 50 day moving average price of $233.70 and a 200 day moving average price of $238.23. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The stock has a market capitalization of $32.29 billion, a P/E ratio of 25.96, a PEG ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

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

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares of the company’s stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the transaction, the insider now owns 9,725 shares in the company, valued at $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock worth $9,164,385 in the last three months. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RMD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Stifel Nicolaus reduced their target price on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. KeyCorp increased their target price on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley began coverage on ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average target price of $249.73.

ResMed 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.