ResMed Inc. (NYSE:RMD) Stock Position Boosted by DnB Asset Management AS

DnB Asset Management AS boosted its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,702 shares of the medical equipment provider's stock after purchasing an additional 1,729 shares during the period. DnB Asset Management AS's holdings in ResMed were worth $6,106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. denkapparat Operations GmbH bought a new stake in shares of ResMed in the 4th quarter valued at approximately $313,000. Nomura Asset Management Co. Ltd. raised its stake in ResMed by 0.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 43,244 shares of the medical equipment provider's stock worth $9,889,000 after acquiring an additional 335 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in ResMed during the 4th quarter valued at about $2,288,000. Norges Bank bought a new stake in ResMed during the 4th quarter worth approximately $118,605,000. Finally, NEOS Investment Management LLC increased its holdings in ResMed by 25.8% during the 4th quarter. NEOS Investment Management LLC now owns 6,039 shares of the medical equipment provider's stock valued at $1,381,000 after purchasing an additional 1,238 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Stock Performance

NYSE RMD traded down $8.56 on Thursday, hitting $214.44. 823,658 shares of the company's stock traded hands, compared to its average volume of 998,443. The firm's 50-day moving average price is $232.37 and its two-hundred day moving average price is $237.54. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05. The firm has a market capitalization of $31.49 billion, a PE ratio of 25.24, a P/E/G ratio of 1.53 and a beta of 0.74. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

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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 (EPS) for the quarter, beating 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, analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

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

Analysts Set New Price Targets

RMD has been the topic of several recent analyst reports. Morgan Stanley began coverage on shares of ResMed in a research note on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price objective on the stock. The Goldman Sachs Group began coverage on ResMed in a research report on Thursday, January 16th. They set a "buy" rating on the stock. StockNews.com lowered shares of ResMed from a "buy" rating to a "hold" rating in a research report on Wednesday. KeyCorp upped their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, Piper Sandler upped their price target on ResMed from $252.00 to $260.00 and gave the company a "neutral" 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $249.73.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at approximately $104,394,182.40. This represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were 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. This trade represents a 50.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,004 shares of company stock worth $9,178,648 in the last quarter. 0.71% of the stock is owned by insiders.

ResMed 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.