ResMed Inc. (NYSE:RMD) Shares Purchased by Guggenheim Capital LLC

Guggenheim Capital LLC lifted its stake in ResMed Inc. (NYSE:RMD - Free Report) by 51.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,032 shares of the medical equipment provider's stock after acquiring an additional 2,056 shares during the period. Guggenheim Capital LLC's holdings in ResMed were worth $1,379,000 at the end of the most recent reporting period.

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

ResMed Trading Up 10.1 %

RMD stock traded up $21.67 during mid-day trading on Thursday, reaching $236.11. 2,257,924 shares of the stock traded hands, compared to its average volume of 1,030,292. ResMed Inc. has a one year low of $179.00 and a one year high of $263.05. 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 stock has a market capitalization of $34.68 billion, a PE ratio of 27.88, a PEG ratio of 1.53 and a beta of 0.75. The business has a 50-day moving average price of $221.75 and a two-hundred day moving average price of $234.03.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, hitting the consensus estimate of $2.37. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. Equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, May 8th. ResMed's payout ratio is 25.03%.

Analyst Ratings Changes

A number of research analysts have weighed in on RMD shares. Morgan Stanley began coverage on shares of ResMed in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price target on the stock. Mizuho set a $265.00 target price on ResMed in a research note on Wednesday, April 16th. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Piper Sandler dropped their target price on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a research report on Thursday. Finally, UBS Group cut their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $254.31.

Insider Buying and Selling

In other news, insider Kaushik Ghoshal sold 9,113 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares of the company's stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $484,220.00. Following the completion of the sale, the director now owns 77,218 shares of the company's stock, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,013 shares of company stock worth $11,298,816. 0.71% of the stock is owned by corporate 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.