Goldman Sachs Group Inc. Purchases 118,296 Shares of ResMed Inc. $RMD

Goldman Sachs Group Inc. lifted its position in shares of ResMed Inc. (NYSE:RMD) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 979,087 shares of the medical equipment provider’s stock after acquiring an additional 118,296 shares during the period. Goldman Sachs Group Inc.’s holdings in ResMed were worth $235,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in RMD. Norges Bank acquired a new position in ResMed during the 4th quarter worth approximately $249,068,000. Swedbank AB increased its position in ResMed by 103.1% during the 4th quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock worth $265,553,000 after purchasing an additional 559,765 shares in the last quarter. First Trust Advisors LP increased its position in ResMed by 285.1% during the 3rd quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider’s stock worth $121,864,000 after purchasing an additional 329,588 shares in the last quarter. Marshall Wace LLP increased its position in ResMed by 2,373.1% during the 3rd quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider’s stock worth $85,126,000 after purchasing an additional 298,412 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in ResMed by 37.2% during the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock worth $262,027,000 after purchasing an additional 294,124 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $96,890,463.86. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 16,973 shares of company stock valued at $3,865,591. 0.65% of the stock is currently owned by corporate insiders.

ResMed Trading Up 0.8%

RMD opened at $195.95 on Friday. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $293.81. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average of $213.11 and a 200-day moving average of $237.21. The stock has a market cap of $28.42 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.80.

ResMed (NYSE:RMD) last posted 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. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company posted $2.37 earnings per share. ResMed’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, sell-side analysts predict that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. ResMed’s dividend payout ratio is 23.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Wall Street Zen cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Citigroup lowered their price objective on shares of ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Wells Fargo & Company lowered their price objective on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Finally, Weiss Ratings cut shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $286.18.

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.