ResMed Inc. (NYSE:RMD) Shares Acquired by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lifted its position in ResMed Inc. (NYSE:RMD) by 139.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,584 shares of the medical equipment provider’s stock after purchasing an additional 27,132 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in ResMed were worth $10,653,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Howard Capital Management Inc. boosted its holdings in shares of ResMed by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock valued at $206,000 after acquiring 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 valued at $714,000 after purchasing an additional 48 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in ResMed by 2.0% during 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 grew its position in ResMed by 2.6% during 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 last quarter. Finally, Brooklyn Investment Group increased its stake in ResMed by 8.1% in the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock valued at $208,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

RMD has been the subject of several recent research reports. Stifel Nicolaus decreased their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. KeyCorp increased their price objective on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, January 31st. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.82.

ResMed Stock Down 2.1 %

Shares of NYSE RMD opened at $220.07 on Wednesday. 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 has a 50-day moving average price of $235.76 and a 200 day moving average price of $239.49. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The stock has a market capitalization of $32.32 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

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

ResMed Dividend Announcement

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

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kaushik Ghoshal sold 9,745 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,327,289.75. This trade represents a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,940 shares of company stock valued at $9,164,385. Insiders own 0.71% of the company’s stock.

ResMed Company 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.