OMERS ADMINISTRATION Corp Has $4.33 Million Stake in ResMed Inc. $RMD

OMERS ADMINISTRATION Corp raised its stake in shares of ResMed Inc. (NYSE:RMD) by 34.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,291 shares of the medical equipment provider’s stock after buying an additional 4,985 shares during the period. OMERS ADMINISTRATION Corp’s holdings in ResMed were worth $4,330,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Trust Advisors LP raised its stake in shares of ResMed by 240.9% in the fourth quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider’s stock valued at $365,542,000 after acquiring an additional 1,072,394 shares during the last quarter. Norges Bank bought a new position in ResMed in the 4th quarter valued at $249,068,000. Deutsche Bank AG boosted its stake in shares of ResMed by 126.0% in the 4th quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider’s stock valued at $340,464,000 after purchasing an additional 787,949 shares during the last quarter. Morgan Stanley boosted its stake in shares of ResMed by 25.0% in the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock valued at $696,523,000 after purchasing an additional 578,559 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of ResMed by 103.1% during 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 period. 54.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on RMD shares. Citigroup reaffirmed a “neutral” rating and issued a $235.00 target price (down from $270.00) on shares of ResMed in a research note on Sunday, July 12th. Robert W. Baird set a $225.00 target price on ResMed in a report on Friday, May 1st. Wells Fargo & Company reduced their price objective on shares of ResMed from $227.00 to $225.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. Finally, Royal Bank Of Canada cut ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 price objective on the stock. in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $246.25.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total value of $1,090,783.05. Following the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $101,893,036.65. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,973 shares of company stock valued at $3,096,067 over the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

ResMed Price Performance

Shares of RMD opened at $203.34 on Tuesday. The company’s 50-day moving average is $198.68 and its 200-day moving average is $224.51. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The firm has a market capitalization of $29.50 billion, a PE ratio of 19.61, a PEG ratio of 1.22 and a beta of 0.78. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the firm posted $2.37 EPS. ResMed’s revenue was up 10.8% compared to the same quarter last year. Equities analysts forecast that ResMed Inc. will post 11.14 EPS for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, May 14th. ResMed’s payout ratio is currently 23.14%.

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.