Desjardins Global Asset Management Inc. Has $101,000 Position in ResMed Inc. (NYSE:RMD)

Desjardins Global Asset Management Inc. lifted its position in shares of ResMed Inc. (NYSE:RMD) by 22.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 585 shares of the medical equipment provider’s stock after buying an additional 109 shares during the period. Desjardins Global Asset Management Inc.’s holdings in ResMed were worth $101,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Main Street Research LLC acquired a new position in shares of ResMed during the fourth quarter worth about $206,000. SVB Wealth LLC acquired a new position in shares of ResMed during the fourth quarter worth about $298,000. Oak Family Advisors LLC boosted its position in shares of ResMed by 16.7% during the fourth quarter. Oak Family Advisors LLC now owns 6,179 shares of the medical equipment provider’s stock worth $1,063,000 after buying an additional 883 shares during the period. Mackenzie Financial Corp boosted its position in shares of ResMed by 10.7% during the fourth quarter. Mackenzie Financial Corp now owns 167,765 shares of the medical equipment provider’s stock worth $28,859,000 after buying an additional 16,260 shares during the period. Finally, Vontobel Holding Ltd. boosted its position in ResMed by 18.2% during the fourth quarter. Vontobel Holding Ltd. now owns 32,580 shares of the medical equipment provider’s stock valued at $5,604,000 after purchasing an additional 5,024 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. UBS Group increased their price target on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Mizuho reissued a “buy” rating and set a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. KeyCorp assumed coverage on ResMed in a research report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price target for the company. Oppenheimer increased their price target on ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Finally, Needham & Company LLC increased their price target on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.20.

Insider Transactions at ResMed

In related news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,216 shares of company stock worth $2,046,617. Company insiders own 1.21% of the company’s stock.

ResMed Price Performance

Shares of NYSE RMD opened at $178.85 on Friday. The firm has a market cap of $26.31 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 2.18 and a beta of 0.67. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $243.52. The business’s 50 day moving average is $186.18 and its 200-day moving average is $170.45.

ResMed (NYSE:RMD) last announced its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.66 earnings per share. Equities research analysts predict that ResMed Inc. will post 7.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were paid a dividend of $0.48 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. ResMed’s dividend payout ratio (DPR) is currently 31.74%.

ResMed Company Profile

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.