Canada Post Corp Registered Pension Plan Acquires 3,142 Shares of ResMed Inc. $RMD

Canada Post Corp Registered Pension Plan increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 157.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,136 shares of the medical equipment provider’s stock after purchasing an additional 3,142 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in ResMed were worth $1,392,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. SJS Investment Consulting Inc. increased its position in shares of ResMed by 1,433.3% during the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 86 shares in the last quarter. WFA of San Diego LLC bought a new position in ResMed during the 2nd quarter worth about $26,000. Westside Investment Management Inc. increased its holdings in ResMed by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 66 shares in the last quarter. GoalVest Advisory LLC acquired a new stake in shares of ResMed in the 3rd quarter valued at about $37,000. Finally, Winnow Wealth LLC bought a new stake in shares of ResMed in the third quarter valued at about $54,000. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of research reports. Robert W. Baird set a $281.00 price objective on ResMed in a report on Friday, January 30th. Citigroup lifted their price objective on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of ResMed in a research report on Monday, December 29th. Stifel Nicolaus increased their target price on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Finally, Wells Fargo & Company lifted their price target on shares of ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $299.27.

Insider Activity at ResMed

In other news, Director Witte Jan De sold 2,055 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total value of $524,025.00. Following the completion of the sale, the director directly owned 4,261 shares of the company’s stock, valued at $1,086,555. This trade represents a 32.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total value of $502,620.00. Following the transaction, the director owned 64,773 shares of the company’s stock, valued at $16,278,102.63. This represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 15,633 shares of company stock worth $3,918,368. Insiders own 0.65% of the company’s stock.

ResMed Price Performance

NYSE:RMD opened at $271.86 on Friday. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $251.78 and a 200 day simple moving average of $263.37. The stock has a market capitalization of $39.60 billion, a PE ratio of 26.89, a P/E/G ratio of 1.80 and a beta of 0.87.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.13. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.43 earnings per share. On average, research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s dividend payout ratio is presently 23.74%.

About ResMed

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.