Koch Industries Inc. Purchases 980,053 Shares of ResMed Inc. (RMD)

Koch Industries Inc. raised its position in ResMed Inc. (NYSE:RMD) by 17,065.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 985,796 shares of the medical equipment provider’s stock after acquiring an additional 980,053 shares during the quarter. Koch Industries Inc. owned approximately 0.69% of ResMed worth $973,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in ResMed by 17.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 42,898 shares of the medical equipment provider’s stock valued at $3,340,000 after acquiring an additional 6,316 shares during the period. Delta Lloyd Asset Management N.V. bought a new position in ResMed in the second quarter valued at about $6,194,000. Prudential Financial Inc. lifted its holdings in ResMed by 50.5% in the second quarter. Prudential Financial Inc. now owns 131,997 shares of the medical equipment provider’s stock valued at $10,279,000 after acquiring an additional 44,266 shares during the period. KBC Group NV lifted its holdings in ResMed by 7.9% in the second quarter. KBC Group NV now owns 27,212 shares of the medical equipment provider’s stock valued at $2,119,000 after acquiring an additional 1,993 shares during the period. Finally, Stephens Investment Management Group LLC lifted its holdings in ResMed by 0.5% in the second quarter. Stephens Investment Management Group LLC now owns 357,493 shares of the medical equipment provider’s stock valued at $27,838,000 after acquiring an additional 1,638 shares during the period. 60.08% of the stock is currently owned by institutional investors.

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A number of research analysts have weighed in on the company. BMO Capital Markets increased their target price on ResMed from $61.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, August 2nd. Needham & Company LLC reissued a “sell” rating on shares of ResMed in a report on Wednesday, August 2nd. Jefferies Group LLC reissued a “sell” rating and issued a $56.00 target price on shares of ResMed in a report on Thursday. Zacks Investment Research downgraded ResMed from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Credit Suisse Group downgraded ResMed from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. ResMed has a consensus rating of “Hold” and an average price target of $68.33.

In related news, insider David Pendarvis sold 6,364 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $72.10, for a total value of $458,844.40. Following the completion of the transaction, the insider now owns 84,476 shares of the company’s stock, valued at approximately $6,090,719.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 20,000 shares of the company’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $77.01, for a total value of $1,540,200.00. The disclosure for this sale can be found here. Insiders sold a total of 107,232 shares of company stock valued at $8,109,182 in the last ninety days. 1.77% of the stock is currently owned by insiders.

ResMed Inc. (RMD) traded up 0.04% on Friday, hitting $77.62. The stock had a trading volume of 203,672 shares. ResMed Inc. has a 52-week low of $56.59 and a 52-week high of $81.87. The company has a 50 day moving average price of $77.49 and a 200-day moving average price of $74.13. The company has a market cap of $11.04 billion, a price-to-earnings ratio of 32.34 and a beta of 0.77.

ResMed (NYSE:RMD) last issued its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The firm had revenue of $556.69 million for the quarter, compared to the consensus estimate of $557.68 million. During the same quarter in the prior year, the business earned $0.74 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that ResMed Inc. will post $3.06 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Thursday, August 17th were issued a $0.35 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $1.40 dividend on an annualized basis and a yield of 1.80%. ResMed’s dividend payout ratio is presently 58.09%.

ResMed Profile

ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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