Korea Investment CORP Increases Position in ResMed Inc. (NYSE:RMD)

Korea Investment CORP boosted its position in ResMed Inc. (NYSE:RMD) by 55.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 127,626 shares of the medical equipment provider’s stock after acquiring an additional 45,600 shares during the period. Korea Investment CORP owned about 0.09% of ResMed worth $29,187,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RMD. Thrivent Financial for Lutherans increased its stake in ResMed by 12.2% in the third quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock valued at $1,697,000 after purchasing an additional 755 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of ResMed during the 3rd quarter valued at about $244,000. Cerity Partners LLC lifted its holdings in shares of ResMed by 82.0% during the 3rd quarter. Cerity Partners LLC now owns 13,686 shares of the medical equipment provider’s stock worth $3,341,000 after acquiring an additional 6,167 shares during the period. Fisher Asset Management LLC boosted its position in shares of ResMed by 6.2% in the third quarter. Fisher Asset Management LLC now owns 26,727 shares of the medical equipment provider’s stock worth $6,525,000 after acquiring an additional 1,563 shares during the last quarter. Finally, Private Trust Co. NA grew its holdings in ResMed by 13.6% in the third quarter. Private Trust Co. NA now owns 1,038 shares of the medical equipment provider’s stock valued at $253,000 after purchasing an additional 124 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Performance

Shares of RMD stock opened at $219.85 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock has a market capitalization of $32.29 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.53 and a beta of 0.74. ResMed Inc. has a one year low of $172.19 and a one year high of $263.05. The company’s 50-day simple moving average is $233.70 and its 200-day simple moving average is $238.23.

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 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%. Equities analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

Wall Street Analyst Weigh In

RMD has been the subject of several research reports. KeyCorp boosted their price objective on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley initiated coverage on ResMed in a report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price objective 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. JPMorgan Chase & Co. boosted their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Stifel Nicolaus dropped their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $249.73.

Insider Buying and Selling

In other news, insider Kaushik Ghoshal sold 9,745 shares of the business’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 completion of the transaction, the insider now directly owns 9,725 shares in the company, valued at approximately $2,327,289.75. The trade was a 50.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock valued at $9,164,385 in the last quarter. Company 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.