CFO4Life Group LLC bought a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,596 shares of the medical equipment provider's stock, valued at approximately $594,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. PGGM Investments boosted its holdings in ResMed by 1,035.8% during the fourth quarter. PGGM Investments now owns 23,613 shares of the medical equipment provider's stock worth $5,400,000 after buying an additional 21,534 shares during the last quarter. LFA Lugano Financial Advisors SA lifted its holdings in shares of ResMed by 116.1% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 750 shares of the medical equipment provider's stock valued at $172,000 after purchasing an additional 403 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of ResMed by 45.1% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 224,403 shares of the medical equipment provider's stock valued at $51,500,000 after purchasing an additional 69,782 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of ResMed by 162.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,940 shares of the medical equipment provider's stock valued at $14,165,000 after purchasing an additional 38,346 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of ResMed during the 4th quarter valued at about $12,599,000. Institutional investors own 54.98% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on RMD. The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They set a "buy" rating on the stock. Piper Sandler lifted their target price on ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Stifel Nicolaus dropped their target price on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lifted their target price on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $243.82.
Get Our Latest Research Report on RMD
Insider Transactions at ResMed
In related news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the sale, the director now owns 75,218 shares of the company's stock, valued at $17,127,890.78. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is owned by company insiders.
ResMed Stock Performance
Shares of NYSE RMD opened at $220.09 on Thursday. 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 Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The stock has a 50 day moving average of $236.63 and a 200-day moving average of $239.99. The company has a market capitalization of $32.32 billion, a P/E ratio of 25.98, a P/E/G ratio of 1.53 and a beta of 0.74.
ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping 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 predict that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. ResMed's dividend payout ratio is currently 25.03%.
ResMed Profile
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Free Report)
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.
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