Norden Group LLC Increases Position in ResMed Inc. (NYSE:RMD)

Norden Group LLC lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 3,620.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 52,080 shares of the medical equipment provider’s stock after buying an additional 50,680 shares during the period. Norden Group LLC’s holdings in ResMed were worth $10,315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in RMD. Handelsbanken Fonder AB raised its stake in ResMed by 22.5% during the 4th quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock valued at $12,088,000 after acquiring an additional 12,899 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of ResMed by 13.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock valued at $7,781,000 after purchasing an additional 5,517 shares during the period. Vaughan David Investments LLC IL purchased a new stake in shares of ResMed during the fourth quarter worth approximately $29,322,000. Dimensional Fund Advisors LP raised its stake in shares of ResMed by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 536,459 shares of the medical equipment provider’s stock worth $92,285,000 after purchasing an additional 40,605 shares during the last quarter. Finally, ICW Investment Advisors LLC lifted its holdings in shares of ResMed by 2.3% during the fourth quarter. ICW Investment Advisors LLC now owns 11,303 shares of the medical equipment provider’s stock worth $1,944,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 0.0 %

Shares of ResMed stock opened at $189.38 on Thursday. The company has a 50-day moving average of $208.82 and a two-hundred day moving average of $191.63. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $229.97. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. The stock has a market cap of $27.82 billion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 1.64 and a beta of 0.66.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.68 EPS. On average, research analysts anticipate that ResMed Inc. will post 7.7 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s dividend payout ratio is currently 29.49%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RMD. Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Needham & Company LLC reiterated a “buy” rating and set a $236.00 price target on shares of ResMed in a research note on Monday, June 24th. KeyCorp increased their price target on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Royal Bank of Canada lifted their price objective on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Finally, Mizuho reissued a “buy” rating and set a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $202.80.

Insider Transactions at ResMed

In related news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $209.81, for a total value of $209,810.00. Following the sale, the chief financial officer now directly owns 91,056 shares of the company’s stock, valued at approximately $19,104,459.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other ResMed news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $209.81, for a total transaction of $209,810.00. Following the completion of the transaction, the chief financial officer now owns 91,056 shares in the company, valued at $19,104,459.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karen Drexler sold 425 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the sale, the director now owns 8,446 shares in the company, valued at $1,815,214.32. The disclosure for this sale can be found here. Insiders sold 31,151 shares of company stock valued at $6,666,409 in the last 90 days. 1.21% of the stock is currently owned by insiders.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.