Goldman Sachs Group Inc. Boosts Holdings in ResMed Inc. (NYSE:RMD)

Goldman Sachs Group Inc. raised its holdings in ResMed Inc. (NYSE:RMDFree Report) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 698,905 shares of the medical equipment provider’s stock after purchasing an additional 95,689 shares during the quarter. Goldman Sachs Group Inc.’s holdings in ResMed were worth $120,225,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Morgan Stanley boosted its holdings in ResMed by 102.4% in the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock valued at $344,481,000 after purchasing an additional 1,178,547 shares during the last quarter. Norges Bank acquired a new position in shares of ResMed in the fourth quarter worth about $233,966,000. Charles Schwab Investment Management Inc. raised its position in shares of ResMed by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 863,289 shares of the medical equipment provider’s stock worth $148,503,000 after acquiring an additional 46,113 shares during the period. LGT Capital Partners LTD. acquired a new position in shares of ResMed in the fourth quarter worth about $117,621,000. Finally, Greenvale Capital LLP raised its position in shares of ResMed by 198.3% in the fourth quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock worth $94,938,000 after acquiring an additional 366,901 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Witte Jan De sold 360 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the sale, the director now owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Witte Jan De sold 360 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the sale, the director now owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Karen Drexler sold 425 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the sale, the director now directly owns 8,446 shares of the company’s stock, valued at approximately $1,815,214.32. The disclosure for this sale can be found here. Insiders sold a total of 31,151 shares of company stock valued at $6,666,409 in the last 90 days. Company insiders own 1.21% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the subject of a number of analyst reports. KeyCorp upped their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Mizuho reiterated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Royal Bank of Canada upped their price target on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. Oppenheimer reduced their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Finally, Needham & Company LLC upped their price target on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.80.

Read Our Latest Analysis on ResMed

ResMed Price Performance

NYSE RMD traded down $0.65 during trading hours on Friday, hitting $211.73. 1,113,732 shares of the company’s stock traded hands, compared to its average volume of 786,775. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $229.97. The company has a market capitalization of $31.10 billion, a PE ratio of 32.52, a PEG ratio of 2.09 and a beta of 0.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. The firm’s 50-day moving average is $205.71 and its 200-day moving average is $188.45.

ResMed (NYSE:RMDGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the company earned $1.68 EPS. ResMed’s revenue was up 7.2% compared to the same quarter last year. Equities analysts forecast that ResMed Inc. will post 7.7 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were paid a $0.48 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 0.91%. ResMed’s dividend payout ratio (DPR) is 29.49%.

ResMed Company Profile

(Free Report)

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

See Also

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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