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

Mariner LLC grew its position in ResMed Inc. (NYSE:RMD - Free Report) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 73,550 shares of the medical equipment provider's stock after purchasing an additional 2,890 shares during the period. Mariner LLC owned approximately 0.05% of ResMed worth $16,821,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RMD. Invesco Ltd. raised its position in ResMed by 32.2% during the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock worth $531,706,000 after buying an additional 566,046 shares during the last quarter. Norges Bank purchased a new position in shares of ResMed during the fourth quarter worth $118,605,000. Los Angeles Capital Management LLC lifted its position in ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider's stock valued at $152,973,000 after purchasing an additional 250,746 shares during the period. Proficio Capital Partners LLC acquired a new position in ResMed during the fourth quarter valued at $50,364,000. Finally, Nordea Investment Management AB boosted its holdings in ResMed by 92.7% in the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider's stock valued at $103,214,000 after purchasing an additional 215,561 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Kaushik Ghoshal sold 9,745 shares of ResMed 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 sale, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,327,289.75. The trade was a 50.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred 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 owns 77,218 shares of the company's stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. 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. Insiders own 0.71% of the company's stock.

ResMed Price Performance

RMD traded up $2.79 on Tuesday, hitting $213.66. 111,231 shares of the company's stock were exchanged, compared to its average volume of 1,035,034. The firm has a 50-day moving average price of $222.61 and a 200-day moving average price of $234.30. 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 stock has a market cap of $31.38 billion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 1.53 and a beta of 0.75. ResMed Inc. has a fifty-two week low of $179.00 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last released 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 analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

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 of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.99%. ResMed's payout ratio is 25.03%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RMD. Piper Sandler boosted their price objective on ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a report on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They issued a "buy" rating on the stock. Stifel Nicolaus decreased their target price on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Morgan Stanley started coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price target on the stock. Finally, UBS Group upgraded shares of ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $250.08.

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.