ResMed Inc. (NYSE:RMD) Shares Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 24.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,172 shares of the medical equipment provider's stock after purchasing an additional 1,432 shares during the quarter. iA Global Asset Management Inc.'s holdings in ResMed were worth $1,640,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC increased its stake in shares of ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 110 shares during the last quarter. OFI Invest Asset Management acquired a new position in ResMed during the fourth quarter worth approximately $39,000. BankPlus Trust Department acquired a new position in ResMed during the fourth quarter worth approximately $44,000. Rosenberg Matthew Hamilton purchased a new position in ResMed during the fourth quarter worth approximately $54,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of ResMed in the 4th quarter valued at $67,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,327,289.75. This trade represents a 50.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock valued at $9,164,385 in the last quarter. Company insiders own 0.71% of the company's stock.

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ResMed Stock Performance

NYSE RMD traded up $0.61 during trading hours on Wednesday, reaching $221.90. The company's stock had a trading volume of 492,225 shares, compared to its average volume of 953,409. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $234.61 and a 200 day simple moving average of $238.66. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The stock has a market cap of $32.59 billion, a PE ratio of 26.20, a PEG ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a report on Tuesday. Piper Sandler upped their price target on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research note on Friday, January 31st. The Goldman Sachs Group initiated coverage on shares of ResMed in a research report on Thursday, January 16th. They set a "buy" rating for the company. Finally, Stifel Nicolaus dropped their target price on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $246.83.

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.