55,092 Shares in ResMed Inc. (NYSE:RMD) Acquired by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. purchased a new position in ResMed Inc. (NYSE:RMD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 55,092 shares of the medical equipment provider's stock, valued at approximately $12,599,000.

Several other institutional investors and hedge funds have also made changes to their positions in RMD. Sequoia Financial Advisors LLC raised its stake in ResMed by 20.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,502 shares of the medical equipment provider's stock valued at $572,000 after purchasing an additional 429 shares during the last quarter. Wealthfront Advisers LLC raised its position in shares of ResMed by 447.0% in the fourth quarter. Wealthfront Advisers LLC now owns 42,768 shares of the medical equipment provider's stock valued at $9,781,000 after buying an additional 34,950 shares during the last quarter. Morton Community Bank lifted its stake in shares of ResMed by 1.1% during the fourth quarter. Morton Community Bank now owns 17,304 shares of the medical equipment provider's stock valued at $3,957,000 after buying an additional 180 shares during the period. Independent Advisor Alliance acquired a new stake in ResMed during the fourth quarter worth approximately $231,000. Finally, Johnson Investment Counsel Inc. purchased a new stake in ResMed in the 4th quarter worth approximately $371,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Performance

Shares of NYSE:RMD traded up $4.76 on Friday, reaching $224.48. 746,942 shares of the company's stock were exchanged, compared to its average volume of 965,367. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The business's 50-day moving average is $236.30 and its two-hundred day moving average is $239.82. The firm has a market capitalization of $32.97 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.53 and a beta of 0.74. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05.

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

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, February 13th. ResMed's dividend payout ratio is currently 25.03%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Piper Sandler increased their price target on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a research report on Saturday. UBS Group upgraded ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a research note on Thursday, January 16th. They set a "buy" rating for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $243.82.

Insider Buying and Selling

In related 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 sale, the chief executive officer now owns 455,472 shares of the company's stock, valued at $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 9,745 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the sale, the insider now owns 9,725 shares of the company's stock, valued at $2,327,289.75. This trade represents a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,940 shares of company stock valued at $9,164,385 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

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.