iA Global Asset Management Inc. Boosts Stake in ResMed Inc. (NYSE:RMD)

iA Global Asset Management Inc. raised its position in ResMed Inc. (NYSE:RMD) by 24.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,172 shares of the medical equipment provider’s stock after purchasing an additional 1,432 shares during the quarter. iA Global Asset Management Inc.’s holdings in ResMed were worth $1,640,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Howard Capital Management Inc. raised its position in ResMed by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after purchasing an additional 45 shares during the period. Ascent Group LLC raised its position in ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 48 shares during the period. SkyView Investment Advisors LLC raised its position in ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares during the period. Wedmont Private Capital raised its position in ResMed by 2.6% in the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after purchasing an additional 52 shares during the period. Finally, Brooklyn Investment Group raised its position in ResMed by 8.1% in the 4th quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock worth $208,000 after purchasing an additional 68 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction 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. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed 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 sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,940 shares of company stock worth $9,164,385 over the last three months. Corporate insiders own 0.71% of the company’s stock.

ResMed Price Performance

Shares of RMD opened at $219.77 on Friday. The company has a market cap of $32.28 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $234.91 and a two-hundred day moving average of $239.06.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share 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, analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.96%. ResMed’s dividend payout ratio (DPR) is 25.03%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. KeyCorp raised their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group assumed coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Finally, Morgan Stanley assumed coverage on shares of ResMed in a research report on Wednesday. They set an “overweight” rating and a $280.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.83.

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.