Generali Asset Management SPA SGR Makes New Investment in ResMed Inc. (NYSE:RMD)

Generali Asset Management SPA SGR acquired a new position in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,348 shares of the medical equipment provider’s stock, valued at approximately $4,196,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC lifted its stake in shares of ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 110 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of ResMed during the fourth quarter worth about $39,000. BankPlus Trust Department acquired a new position in shares of ResMed during the fourth quarter worth about $44,000. Rosenberg Matthew Hamilton acquired a new position in shares of ResMed during the fourth quarter worth about $54,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of ResMed during the fourth quarter worth about $67,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Down 2.1 %

NYSE:RMD opened at $220.07 on Wednesday. The firm has a market capitalization of $32.32 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The stock has a 50 day moving average of $235.76 and a 200-day moving average of $239.49. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. KeyCorp boosted their price objective on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Stifel Nicolaus dropped their target price on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group initiated coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $243.82.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by insiders.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.