Arrowstreet Capital Limited Partnership Grows Position in ResMed Inc. (NYSE:RMD)

Arrowstreet Capital Limited Partnership lifted its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,127 shares of the medical equipment provider's stock after buying an additional 17,951 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.15% of ResMed worth $49,426,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. True Wealth Design LLC boosted its holdings in shares of ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock worth $28,000 after buying an additional 110 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of ResMed during the 4th quarter worth $39,000. BankPlus Trust Department bought a new stake in shares of ResMed during the 4th quarter valued at $44,000. Rosenberg Matthew Hamilton purchased a new stake in shares of ResMed in the 4th quarter worth $54,000. Finally, SBI Securities Co. Ltd. bought a new position in ResMed in the 4th quarter worth $67,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Morgan Stanley initiated coverage on ResMed in a research report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price objective on the stock. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They set a "buy" rating on the stock. UBS Group raised shares of ResMed from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. StockNews.com cut shares of ResMed from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, ResMed currently has an average rating of "Moderate Buy" and a consensus price target of $249.73.

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Insider Buying and Selling at ResMed

In related news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the transaction, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total value of $455,420.00. Following the sale, the director now directly owns 75,218 shares in the company, valued at $17,127,890.78. The trade was a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,004 shares of company stock worth $9,178,648 over the last 90 days. 0.71% of the stock is owned by insiders.

ResMed Price Performance

Shares of RMD stock traded down $9.89 during trading hours on Thursday, hitting $213.11. The stock had a trading volume of 1,511,659 shares, compared to its average volume of 999,180. The stock's 50-day moving average price is $232.37 and its two-hundred day moving average price is $237.54. ResMed Inc. has a one year low of $172.19 and a one year high of $263.05. The stock has a market capitalization of $31.30 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed's payout ratio is 25.03%.

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.