Prudential PLC Buys 24,703 Shares of ResMed Inc. $RMD

Prudential PLC lifted its stake in ResMed Inc. (NYSE:RMD) by 117.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,705 shares of the medical equipment provider’s stock after acquiring an additional 24,703 shares during the period. Prudential PLC’s holdings in ResMed were worth $11,009,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of ResMed by 1.6% in the third quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock worth $5,211,940,000 after buying an additional 293,515 shares in the last quarter. Bank of New York Mellon Corp raised its position 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 buying an additional 337,738 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ResMed by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,302,906 shares of the medical equipment provider’s stock worth $1,032,877,000 after buying an additional 51,218 shares in the last quarter. Swedbank AB raised its position 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 buying an additional 559,765 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of ResMed by 37.2% in the fourth quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock worth $262,027,000 after buying an additional 294,124 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $207.82, for a total value of $1,037,229.62. Following the sale, the chief executive officer owned 466,223 shares in the company, valued at $96,890,463.86. The trade was a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 90 days. Company insiders own 0.65% of the company’s stock.

ResMed Trading Up 0.8%

NYSE RMD opened at $195.95 on Friday. The stock’s 50-day simple moving average is $213.11 and its two-hundred day simple moving average is $237.21. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $293.81. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $28.42 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.24 and a beta of 0.80.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating 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 business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the business posted $2.37 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Research analysts forecast that ResMed Inc. will post 11.13 EPS for the current fiscal 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 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 (DPR) is presently 23.14%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Citigroup lowered their price objective on ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. JPMorgan Chase & Co. assumed coverage on ResMed in a research report on Wednesday, April 15th. They issued an “overweight” rating on the stock. Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Robert W. Baird set a $225.00 price objective on ResMed in a research report on Friday, May 1st. Finally, KeyCorp lowered their price objective on ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $286.18.

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.