denkapparat Operations GmbH Invests $313,000 in ResMed Inc. (NYSE:RMD)

denkapparat Operations GmbH acquired a new stake in ResMed Inc. (NYSE:RMD) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,368 shares of the medical equipment provider’s stock, valued at approximately $313,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in ResMed during the 4th quarter valued at about $118,605,000. Geode Capital Management LLC grew its position in shares of ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after purchasing an additional 380,383 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of ResMed by 60.0% in 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 purchasing an additional 250,746 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of 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 purchasing an additional 249,454 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in ResMed during the fourth quarter worth $50,364,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Morgan Stanley started coverage on shares of ResMed in a report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 target price on the stock. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. The Goldman Sachs Group initiated coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. raised their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.73.

ResMed Price Performance

Shares of RMD opened at $222.62 on Friday. The company has a market cap of $32.69 billion, a P/E ratio of 26.28, a PEG ratio of 1.53 and a beta of 0.74. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week 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 firm’s 50 day moving average price is $234.10 and its 200 day moving average price is $238.43.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.95%. ResMed’s payout ratio is 25.03%.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value 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 approximately $2,327,289.75. This represents a 50.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 38,940 shares of company stock valued at $9,164,385. Insiders own 0.71% of the company’s stock.

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.