10,400 Shares in ResMed Inc. (NYSE:RMD) Acquired by Alberta Investment Management Corp

Alberta Investment Management Corp bought a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,400 shares of the medical equipment provider's stock, valued at approximately $2,378,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RMD. Peak Financial Advisors LLC bought a new stake in ResMed during the 4th quarter worth approximately $2,972,000. Principal Financial Group Inc. boosted its position in shares of ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider's stock valued at $45,596,000 after buying an additional 5,284 shares during the last quarter. Spire Wealth Management grew its holdings in ResMed by 11.3% during the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock worth $2,470,000 after buying an additional 1,100 shares in the last quarter. Retireful LLC purchased a new stake in ResMed in the 3rd quarter valued at $742,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in ResMed by 38.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,830 shares of the medical equipment provider's stock valued at $2,989,000 after acquiring an additional 3,576 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RMD. The Goldman Sachs Group started coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a "buy" rating for the company. Piper Sandler upped their price objective on shares of ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Royal Bank of Canada lifted their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. Stifel Nicolaus began coverage on ResMed in a report on Friday, December 13th. They issued a "hold" rating and a $250.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, ResMed currently has a consensus rating of "Moderate Buy" and an average target price of $244.73.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now owns 77,218 shares of the company's stock, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the company'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 directly owns 455,472 shares in the company, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,147 shares of company stock worth $2,905,745 over the last 90 days. Corporate insiders own 0.71% of the company's stock.

ResMed Stock Performance

Shares of RMD stock traded down $1.18 on Friday, hitting $231.61. 518,460 shares of the stock were exchanged, compared to its average volume of 955,284. The firm's 50 day moving average is $237.57 and its two-hundred day moving average is $238.96. ResMed Inc. has a one year low of $170.56 and a one year high of $263.05. The firm has a market capitalization of $34.02 billion, a PE ratio of 27.34, a P/E/G ratio of 1.55 and a beta of 0.70. 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 - Get Free Report) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping analysts' consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Sell-side analysts expect that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.92%. ResMed's payout ratio is 25.03%.

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.