ResMed Inc. (NYSE:RMD) Position Boosted by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co grew its stake in ResMed Inc. (NYSE:RMD - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 160,915 shares of the medical equipment provider's stock after buying an additional 15,389 shares during the period. CANADA LIFE ASSURANCE Co owned 0.11% of ResMed worth $36,811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board increased its holdings in ResMed by 1,020.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 13,328 shares of the medical equipment provider's stock valued at $3,048,000 after acquiring an additional 12,139 shares in the last quarter. Farringdon Capital Ltd. purchased a new stake in shares of ResMed in the fourth quarter valued at $678,000. Zacks Investment Management lifted its holdings in shares of ResMed by 1.8% during the 4th quarter. Zacks Investment Management now owns 17,343 shares of the medical equipment provider's stock worth $3,966,000 after acquiring an additional 313 shares during the period. Jump Financial LLC grew its stake in shares of ResMed by 24.2% during the 4th quarter. Jump Financial LLC now owns 7,978 shares of the medical equipment provider's stock valued at $1,824,000 after buying an additional 1,552 shares during the period. Finally, Guggenheim Capital LLC raised its holdings in shares of ResMed by 51.7% in the 4th quarter. Guggenheim Capital LLC now owns 6,032 shares of the medical equipment provider's stock worth $1,379,000 after purchasing an additional 2,056 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Performance

Shares of NYSE RMD traded up $0.72 during midday trading on Wednesday, hitting $214.80. The company's stock had a trading volume of 1,679,178 shares, compared to its average volume of 1,054,814. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The firm's fifty day moving average price is $222.11 and its 200-day moving average price is $234.16. The firm has a market cap of $31.55 billion, a P/E ratio of 25.36, a P/E/G ratio of 1.53 and a beta of 0.75. ResMed Inc. has a 1-year low of $179.00 and a 1-year high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, hitting analysts' consensus estimates of $2.37. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.99%. The ex-dividend date was Thursday, February 13th. ResMed's dividend payout ratio (DPR) is 25.03%.

Analysts Set New Price Targets

RMD has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. 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 objective for the company. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Finally, Mizuho set a $265.00 price target on shares of ResMed in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and a consensus target price of $250.08.

Insider Transactions at ResMed

In other news, insider Kaushik Ghoshal sold 9,113 shares of the company's stock in a transaction that occurred on 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 sale, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were 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 $95,580,799.20. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,013 shares of company stock valued at $11,298,816. 0.71% of the stock is currently owned by corporate 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.