Northwest & Ethical Investments L.P. Purchases Shares of 13,226 ResMed Inc. (NYSE:RMD)

Northwest & Ethical Investments L.P. acquired a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,226 shares of the medical equipment provider's stock, valued at approximately $3,025,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock worth $939,114,000 after buying an additional 380,383 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of 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 acquiring an additional 250,746 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of ResMed by 726.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider's stock valued at $69,281,000 after acquiring an additional 249,454 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of ResMed during the fourth quarter worth approximately $50,364,000. Finally, Nordea Investment Management AB lifted its stake in shares of 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 buying an additional 215,561 shares in the last quarter. Institutional investors own 54.98% of the company's stock.

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Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction 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 transaction, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction on 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 owns 9,725 shares in the company, valued at $2,289,265. This trade represents a 48.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

RMD has been the topic of a number of analyst reports. StockNews.com upgraded shares of ResMed from a "hold" rating to a "buy" rating in a report on Tuesday. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Stifel Nicolaus dropped their target price on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. KeyCorp upped their price target on ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group started coverage on shares of ResMed in a research report on Thursday, January 16th. They set a "buy" rating on the stock. One research 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $246.83.

ResMed Stock Performance

ResMed stock traded down $1.51 during midday trading on Tuesday, reaching $221.40. The stock had a trading volume of 1,060,170 shares, compared to its average volume of 958,894. The firm has a market capitalization of $32.52 billion, a PE ratio of 26.14, a P/E/G ratio of 1.53 and a beta of 0.74. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm's 50-day moving average price is $234.76 and its 200 day moving average price is $238.83. 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 posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping 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%. As a group, research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business 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. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Thursday, February 13th. ResMed's dividend payout ratio is presently 25.03%.

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.