E Fund Management Co. Ltd. Purchases 718 Shares of ResMed Inc. (NYSE:RMD)

E Fund Management Co. Ltd. grew its position in ResMed Inc. (NYSE:RMD) by 75.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,672 shares of the medical equipment provider’s stock after buying an additional 718 shares during the period. E Fund Management Co. Ltd.’s holdings in ResMed were worth $382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC grew its position in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of ResMed in the 3rd quarter valued at about $34,000. BankPlus Trust Department bought a new position in shares of ResMed in the 4th quarter valued at about $44,000. Rosenberg Matthew Hamilton bought a new position in shares of ResMed in the 4th quarter valued at about $54,000. Finally, Capital Performance Advisors LLP bought a new position in shares of ResMed in the 3rd quarter valued at about $60,000. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 3.3 %

NYSE:RMD opened at $232.40 on Friday. The firm has a market cap of $34.13 billion, a P/E ratio of 27.44, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The firm’s fifty day moving average is $236.70 and its 200-day moving average is $239.93. 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 (EPS) for the quarter, topping 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 analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.91%. ResMed’s payout ratio is 25.03%.

Insiders Place Their Bets

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the transaction, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. This represents a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,186 shares of company stock worth $4,996,646. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on RMD. JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. KeyCorp lifted their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Friday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.82.

About ResMed

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.