UniSuper Management Pty Ltd Buys 2,138 Shares of ResMed Inc. (NYSE:RMD)

UniSuper Management Pty Ltd boosted its position in ResMed Inc. (NYSE:RMD) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,610 shares of the medical equipment provider’s stock after purchasing an additional 2,138 shares during the quarter. UniSuper Management Pty Ltd’s holdings in ResMed were worth $15,004,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after buying an additional 380,383 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after acquiring an additional 250,746 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in ResMed by 726.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after acquiring an additional 249,454 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in ResMed in the fourth quarter worth $50,364,000. Finally, Nordea Investment Management AB increased its position in shares of ResMed by 92.7% during the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after purchasing an additional 215,561 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,289,265. The trade was a 48.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,940 shares of company stock worth $9,164,385. Company insiders own 0.71% of the company’s stock.

ResMed Price Performance

NYSE:RMD opened at $222.62 on Friday. 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 52 week low of $172.19 and a 52 week high of $263.05. The stock’s 50-day moving average price is $234.10 and its 200-day moving average price is $238.43. The stock has a market capitalization of $32.69 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, equities analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal 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 $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s payout ratio is presently 25.03%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RMD shares. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. KeyCorp increased their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group assumed coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $249.73.

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.