Simplify Asset Management Inc. Acquires Shares of 30,141 ResMed Inc. (NYSE:RMD)

Simplify Asset Management Inc. bought a new stake 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 institutional investor bought 30,141 shares of the medical equipment provider's stock, valued at approximately $6,893,000. ResMed makes up approximately 0.3% of Simplify Asset Management Inc.'s investment portfolio, making the stock its 17th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in RMD. Geode Capital Management LLC raised its stake in ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock worth $939,114,000 after buying an additional 380,383 shares during the period. Los Angeles Capital Management LLC raised its position in shares of ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider's stock worth $152,973,000 after purchasing an additional 250,746 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of ResMed by 726.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider's stock worth $69,281,000 after purchasing an additional 249,454 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of ResMed in the 4th quarter worth $50,364,000. Finally, Nordea Investment Management AB grew its position in ResMed by 92.7% in the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider's stock valued at $103,214,000 after purchasing an additional 215,561 shares during the period. Institutional investors own 54.98% of the company's stock.

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ResMed Stock Performance

Shares of NYSE:RMD traded up $0.74 during trading on Thursday, hitting $222.62. 484,081 shares of the company were exchanged, compared to its average volume of 952,497. The company has a market cap of $32.69 billion, a PE ratio of 26.28, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a 50 day moving average of $234.10 and a 200 day moving average of $238.43.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly 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%. As a group, equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.95%. ResMed's dividend payout ratio (DPR) is presently 25.03%.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction 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 trade represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the sale, the chief executive officer now owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. 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 38,940 shares of company stock valued at $9,164,385 over the last quarter. 0.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on RMD. Morgan Stanley initiated coverage on shares of ResMed in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. The Goldman Sachs Group initiated coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a "buy" rating for the company. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, ResMed currently has an average rating of "Moderate Buy" and an average target price of $246.83.

ResMed Company 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.