216,193 Shares in ResMed Inc. $RMD Purchased by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. acquired a new position in ResMed Inc. (NYSE:RMD) during the 4th quarter, Holdings Channel reports. The fund acquired 216,193 shares of the medical equipment provider’s stock, valued at approximately $52,077,000.

Several other institutional investors and hedge funds have also made changes to their positions in RMD. Swedbank AB lifted its holdings in ResMed by 103.1% in the 4th quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock valued at $265,553,000 after purchasing an additional 559,765 shares in the last quarter. First Trust Advisors LP lifted its holdings in ResMed by 285.1% in the 3rd quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider’s stock valued at $121,864,000 after purchasing an additional 329,588 shares in the last quarter. Marshall Wace LLP lifted its holdings in ResMed by 2,373.1% in the 3rd quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider’s stock valued at $85,126,000 after purchasing an additional 298,412 shares in the last quarter. Nordea Investment Management AB lifted its holdings in ResMed by 37.2% in the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after purchasing an additional 294,124 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in ResMed by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock valued at $5,211,940,000 after purchasing an additional 293,515 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of recent research reports. Robert W. Baird set a $225.00 target price on shares of ResMed in a report on Friday, May 1st. Evercore set a $255.00 target price on shares of ResMed and gave the company an “outperform” rating in a report on Monday, April 13th. Citigroup reduced their target price on shares of ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Stifel Nicolaus upped their target price on shares of ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. initiated coverage on shares of ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $286.18.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the transaction, the chief executive officer owned 466,223 shares in the company, valued at approximately $117,035,959.69. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 18,973 shares of company stock worth $4,386,031. Insiders own 0.65% of the company’s stock.

ResMed Trading Down 6.3%

Shares of RMD stock opened at $190.58 on Friday. The firm has a market cap of $27.64 billion, a P/E ratio of 18.38, a PEG ratio of 1.30 and a beta of 0.84. ResMed Inc. has a 1-year low of $190.38 and a 1-year high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The firm’s 50-day simple moving average is $216.93 and its 200-day simple moving average is $239.34.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.07. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.37 EPS. As a group, equities analysts forecast that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, May 14th. ResMed’s dividend payout ratio is presently 23.14%.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.