National Pension Service Sells 13,770 Shares of ResMed Inc. (NYSE:RMD)

National Pension Service decreased its holdings in ResMed Inc. (NYSE:RMD) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 213,885 shares of the medical equipment provider’s stock after selling 13,770 shares during the quarter. National Pension Service owned approximately 0.15% of ResMed worth $48,913,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. True Wealth Design LLC raised its position in shares of ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of ResMed during the third quarter worth $34,000. BankPlus Trust Department bought a new stake in shares of ResMed during the fourth quarter worth $44,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed during the fourth quarter worth $54,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of ResMed during the third quarter worth $60,000. Institutional investors own 54.98% of the company’s stock.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the transaction, the director now directly owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,147 shares of company stock valued at $2,905,745. Insiders own 0.71% of the company’s stock.

ResMed Stock Down 1.5 %

RMD stock opened at $231.03 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a market capitalization of $33.93 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.53 and a beta of 0.70. The business has a 50-day moving average of $237.14 and a 200-day moving average of $239.56. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping 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, sell-side analysts anticipate 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 will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.92%. ResMed’s dividend payout ratio is currently 25.03%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. Piper Sandler upped their price objective on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. KeyCorp upped their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Stifel Nicolaus assumed coverage on ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $244.73.

ResMed Profile

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.