ResMed Inc. (NYSE:RMD) Position Raised by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd increased its position in shares of ResMed Inc. (NYSE:RMD) by 67.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,656 shares of the medical equipment provider’s stock after purchasing an additional 665 shares during the period. Harvest Fund Management Co. Ltd’s holdings in ResMed were worth $379,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in ResMed by 139.5% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 46,584 shares of the medical equipment provider’s stock worth $10,653,000 after purchasing an additional 27,132 shares in the last quarter. Generali Asset Management SPA SGR bought a new stake in ResMed during the fourth quarter worth approximately $4,196,000. Axxcess Wealth Management LLC raised its holdings in ResMed by 63.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 9,969 shares of the medical equipment provider’s stock worth $2,280,000 after purchasing an additional 3,853 shares in the last quarter. Parallel Advisors LLC raised its holdings in ResMed by 6.4% during the fourth quarter. Parallel Advisors LLC now owns 1,697 shares of the medical equipment provider’s stock worth $388,000 after purchasing an additional 102 shares in the last quarter. Finally, Cibc World Markets Corp increased its holdings in shares of ResMed by 15.8% in the fourth quarter. Cibc World Markets Corp now owns 23,141 shares of the medical equipment provider’s stock valued at $5,292,000 after buying an additional 3,164 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley assumed coverage on ResMed in a report on Wednesday. They issued an “overweight” rating and a $280.00 price target on the stock. The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. Stifel Nicolaus dropped their price target on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, Piper Sandler upped their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.83.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kaushik Ghoshal sold 9,745 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the sale, the insider now owns 9,725 shares of the company’s stock, valued at $2,327,289.75. This represents a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,940 shares of company stock worth $9,164,385. Corporate insiders own 0.71% of the company’s stock.

ResMed Trading Down 0.6 %

ResMed stock opened at $219.77 on Friday. The company’s fifty day simple moving average is $234.91 and its 200-day simple moving average is $239.06. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The stock has a market cap of $32.28 billion, a P/E ratio of 25.95, a P/E/G ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS 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%. As a group, sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

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

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.