Healthcare of Ontario Pension Plan Trust Fund Purchases 3,383 Shares of ResMed Inc. $RMD

Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of ResMed Inc. (NYSE:RMD) by 58.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,153 shares of the medical equipment provider’s stock after buying an additional 3,383 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in ResMed were worth $2,055,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in RMD. Arrowstreet Capital Limited Partnership raised its stake in shares of ResMed by 64.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 450,250 shares of the medical equipment provider’s stock valued at $101,072,000 after acquiring an additional 176,641 shares during the last quarter. Inceptionr LLC purchased a new stake in ResMed in the 1st quarter worth approximately $468,000. First Trust Advisors LP grew its position in shares of ResMed by 1.3% in the 1st quarter. First Trust Advisors LP now owns 1,537,825 shares of the medical equipment provider’s stock worth $345,211,000 after buying an additional 20,233 shares during the last quarter. Fortis Capital Management LLC increased its stake in shares of ResMed by 2.5% during the first quarter. Fortis Capital Management LLC now owns 28,688 shares of the medical equipment provider’s stock valued at $6,440,000 after buying an additional 687 shares during the period. Finally, ABN Amro Investment Solutions raised its holdings in shares of ResMed by 14.9% during the first quarter. ABN Amro Investment Solutions now owns 6,770 shares of the medical equipment provider’s stock valued at $1,520,000 after acquiring an additional 880 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

Shares of RMD opened at $211.39 on Friday. The firm’s 50-day simple moving average is $198.86 and its two-hundred day simple moving average is $223.58. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $293.81. The stock has a market cap of $30.66 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.27 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.37 EPS. Analysts anticipate that ResMed Inc. will post 11.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on RMD shares. Citigroup reiterated a “neutral” rating and issued a $235.00 price target (down from $270.00) on shares of ResMed in a report on Sunday, July 12th. Jefferies Financial Group reduced their price target on shares of ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. Weiss Ratings downgraded shares of ResMed from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 24th. Mizuho cut their price objective on ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 15th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ResMed currently has a consensus rating of “Hold” and an average target price of $246.25.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $101,893,036.65. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,973 shares of company stock valued at $3,096,067 over the last 90 days. Corporate insiders own 0.65% of the company’s stock.

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.