Daiwa Securities Group Inc. boosted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,119 shares of the medical equipment provider's stock after acquiring an additional 1,320 shares during the quarter. Daiwa Securities Group Inc.'s holdings in ResMed were worth $5,744,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Howard Capital Management Inc. grew its stake in shares of ResMed by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock worth $206,000 after purchasing an additional 45 shares during the period. Ascent Group LLC grew its position in ResMed by 1.7% during the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider's stock valued at $714,000 after buying an additional 48 shares during the period. SkyView Investment Advisors LLC increased its holdings in ResMed by 2.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider's stock valued at $637,000 after buying an additional 51 shares in the last quarter. Wedmont Private Capital raised its position in shares of ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider's stock worth $475,000 after acquiring an additional 52 shares during the period. Finally, Brooklyn Investment Group boosted its stake in shares of ResMed by 8.1% during the 4th quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider's stock worth $208,000 after acquiring an additional 68 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on RMD shares. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. UBS Group upgraded ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. KeyCorp increased their target price on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Piper Sandler boosted their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Finally, Stifel Nicolaus decreased their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $243.82.
Read Our Latest Research Report on RMD
ResMed Trading Down 0.4 %
Shares of NYSE:RMD traded down $0.91 during midday trading on Thursday, reaching $219.31. 1,173,292 shares of the company's stock were exchanged, compared to its average volume of 971,293. The firm's 50 day simple moving average is $236.63 and its two-hundred day simple moving average is $239.99. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a market cap of $32.21 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 1.53 and a beta of 0.74.
ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.
ResMed Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.97%. ResMed's dividend payout ratio (DPR) is 25.03%.
Insider Transactions at ResMed
In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of ResMed stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the sale, the insider now directly owns 9,725 shares of the company's stock, valued at $2,327,289.75. The trade was a 50.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction dated 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 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. Over the last 90 days, insiders have sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by company insiders.
About ResMed
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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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