Korea Investment CORP Buys 45,600 Shares of ResMed Inc. (NYSE:RMD)

Korea Investment CORP boosted its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 55.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 127,626 shares of the medical equipment provider's stock after acquiring an additional 45,600 shares during the quarter. Korea Investment CORP owned approximately 0.09% of ResMed worth $29,187,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its holdings 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 purchasing an additional 110 shares in the last quarter. OFI Invest Asset Management acquired a new position in ResMed during the fourth quarter worth $39,000. BankPlus Trust Department bought a new position in ResMed during the fourth quarter valued at about $44,000. Rosenberg Matthew Hamilton bought a new position in shares of ResMed in the 4th quarter valued at approximately $54,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of ResMed in the fourth quarter worth $67,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Piper Sandler upped their price target on shares of ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a report on Friday, January 31st. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday, March 25th. KeyCorp boosted their price objective on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Stifel Nicolaus reduced their target price on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. Finally, Morgan Stanley started coverage on shares of ResMed in a report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight 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 stock currently has an average rating of "Moderate Buy" and a consensus price target of $249.73.

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Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 in the company, valued at $2,327,289.75. This represents a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,940 shares of company stock valued at $9,164,385. Company insiders own 0.71% of the company's stock.

ResMed Price Performance

Shares of NYSE:RMD traded down $2.36 during midday trading on Tuesday, reaching $221.50. The company's stock had a trading volume of 318,803 shares, compared to its average volume of 943,073. The business's fifty day simple moving average is $233.37 and its 200-day simple moving average is $237.83. The company has a market capitalization of $32.53 billion, a P/E ratio of 26.15, a P/E/G ratio of 1.53 and a beta of 0.74. 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 fifty-two week low of $172.19 and a fifty-two week 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, topping analysts' consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.96%. 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.