Franklin Resources Inc. Has $45.37 Million Holdings in ResMed Inc. (NYSE:RMD)

Franklin Resources Inc. raised its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 13.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 198,372 shares of the medical equipment provider's stock after purchasing an additional 24,259 shares during the quarter. Franklin Resources Inc. owned about 0.14% of ResMed worth $45,366,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in ResMed during the fourth quarter worth about $39,000. BankPlus Trust Department acquired a new position in shares of ResMed in the 4th quarter worth approximately $44,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed in the 4th quarter worth approximately $54,000. SBI Securities Co. Ltd. acquired a new stake in ResMed during the fourth quarter valued at approximately $67,000. Finally, Kentucky Trust Co bought a new stake in ResMed during the fourth quarter worth approximately $82,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RMD. The Goldman Sachs Group began coverage on ResMed in a research note on Thursday, January 16th. They set a "buy" rating for the company. Stifel Nicolaus reduced their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. StockNews.com cut shares of ResMed from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, ResMed presently has a consensus rating of "Moderate Buy" and a consensus target price of $249.73.

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Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares of the company's stock, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $95,580,799.20. 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 sold 49,013 shares of company stock worth $11,298,816. Company insiders own 0.71% of the company's stock.

ResMed Stock Performance

Shares of NYSE RMD traded down $7.32 during trading hours on Thursday, hitting $209.12. 253,716 shares of the company's stock were exchanged, compared to its average volume of 1,012,914. The stock has a market capitalization of $30.71 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 1.53 and a beta of 0.75. The company's 50-day moving average price is $226.80 and its 200-day moving average price is $235.88. 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 Inc. has a 1-year low of $172.19 and a 1-year high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share 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%. On average, sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 1.01%. ResMed's payout ratio is 25.03%.

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.