Canada Post Corp Registered Pension Plan Makes New Investment in ResMed Inc. (NYSE:RMD)

Canada Post Corp Registered Pension Plan acquired a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,514 shares of the medical equipment provider's stock, valued at approximately $575,000.

A number of other large investors have also made changes to their positions in RMD. First Horizon Advisors Inc. raised its holdings in ResMed by 285.1% in the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock valued at $136,000 after acquiring an additional 439 shares in the last quarter. Peak Financial Advisors LLC acquired a new position in shares of ResMed in the fourth quarter valued at $2,972,000. Principal Financial Group Inc. boosted its stake in ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider's stock worth $45,596,000 after buying an additional 5,284 shares in the last quarter. Spire Wealth Management raised its stake in shares of ResMed by 11.3% in the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock valued at $2,470,000 after buying an additional 1,100 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of ResMed by 2.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider's stock worth $14,105,000 after acquiring an additional 1,629 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Stock Down 0.9 %

NYSE RMD traded down $1.92 on Monday, reaching $210.99. The company had a trading volume of 223,915 shares, compared to its average volume of 1,019,838. The company's fifty day moving average is $223.12 and its 200-day moving average is $234.46. ResMed Inc. has a 1-year low of $178.49 and a 1-year high of $263.05. The firm has a market capitalization of $30.99 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 1.00%. ResMed's payout ratio is currently 25.03%.

Insider Transactions at ResMed

In other news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,289,265. This represents a 48.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $95,580,799.20. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,013 shares of company stock worth $11,298,816 in the last three months. Insiders own 0.71% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on RMD. UBS Group raised shares of ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. The Goldman Sachs Group initiated coverage on ResMed in a report on Thursday, January 16th. They issued a "buy" rating for the company. JPMorgan Chase & Co. boosted their price target on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. Finally, Needham & Company LLC restated a "hold" rating on shares of ResMed in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ResMed currently has an average rating of "Moderate Buy" and a consensus price target of $250.08.

About ResMed

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.