Triglav Skladi D.O.O. Takes Position in ResMed Inc. (NYSE:RMD)

Triglav Skladi D.O.O. acquired a new stake in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,400 shares of the medical equipment provider’s stock, valued at approximately $1,692,000.

Other hedge funds have also made changes to their positions in the company. Colonial Trust Co SC increased its holdings in shares of ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 125 shares during the last quarter. Optiver Holding B.V. bought a new stake in ResMed during the 4th quarter valued at approximately $33,000. Itau Unibanco Holding S.A. boosted its stake in ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 150 shares during the period. OFI Invest Asset Management bought a new stake in ResMed during the 4th quarter valued at approximately $39,000. Finally, Coppell Advisory Solutions LLC boosted its stake in ResMed by 1,750.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Up 1.3%

RMD stock opened at $251.75 on Monday. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $225.34 and its 200-day moving average is $234.11. The firm has a market cap of $36.91 billion, a P/E ratio of 29.72, a P/E/G ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating the consensus estimate of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm earned $2.13 EPS. ResMed’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed’s payout ratio is 23.79%.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total transaction of $1,948,029.07. Following the sale, the chief executive officer now directly owns 455,503 shares of the company’s stock, valued at approximately $110,791,994.69. This represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total transaction of $455,420.00. Following the sale, the director now directly owns 75,218 shares of the company’s stock, valued at approximately $17,127,890.78. The trade was a 2.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,949 shares of company stock valued at $11,335,320. 0.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RMD shares. Piper Sandler decreased their target price on ResMed from $260.00 to $248.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. KeyCorp set a $274.00 target price on ResMed in a research note on Thursday, April 24th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Finally, Royal Bank of Canada increased their target price on ResMed from $247.00 to $255.00 and gave the company a “sector perform” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.83.

About ResMed

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.