18,348 Shares in ResMed Inc. (NYSE:RMD) Acquired by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR bought a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,348 shares of the medical equipment provider's stock, valued at approximately $4,196,000.

Other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. raised its position in shares of ResMed by 285.1% in the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock valued at $136,000 after purchasing an additional 439 shares in the last quarter. Peak Financial Advisors LLC bought a new stake in shares of ResMed in the fourth quarter worth $2,972,000. Principal Financial Group Inc. raised its holdings in ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider's stock valued at $45,596,000 after acquiring an additional 5,284 shares in the last quarter. Retireful LLC bought a new position in ResMed during the 3rd quarter valued at $742,000. Finally, Spire Wealth Management grew its holdings in ResMed by 11.3% during the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock worth $2,470,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction that occurred 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 directly owns 75,218 shares of the company's stock, valued at approximately $17,127,890.78. This represents a 2.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the insider now owns 9,725 shares of the company's stock, valued at $2,327,289.75. This trade represents a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,940 shares of company stock worth $9,164,385 in the last 90 days. Corporate insiders own 0.71% of the company's stock.

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ResMed Stock Performance

Shares of RMD traded down $1.35 during mid-day trading on Friday, reaching $219.77. 1,171,311 shares of the company's stock traded hands, compared to its average volume of 959,797. 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 business's 50-day moving average price is $234.91 and its 200-day moving average price is $239.02. The stock has a market capitalization of $32.28 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results 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%. Equities analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.96%. The ex-dividend date was Thursday, February 13th. ResMed's payout ratio is currently 25.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RMD shares. JPMorgan Chase & Co. lifted their price target on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. The Goldman Sachs Group began coverage on ResMed in a research report on Thursday, January 16th. They issued a "buy" rating for the company. 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. Morgan Stanley began coverage on shares of ResMed in a report on Wednesday. They issued an "overweight" rating and a $280.00 price objective for the company. Finally, UBS Group raised shares of ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and an average target price of $246.83.

ResMed Company 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.