abrdn plc Purchases 33,451 Shares of ResMed Inc. (NYSE:RMD)

abrdn plc lifted its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 9.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 397,810 shares of the medical equipment provider's stock after buying an additional 33,451 shares during the period. abrdn plc owned about 0.27% of ResMed worth $96,284,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in shares of ResMed by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider's stock valued at $1,105,022,000 after buying an additional 1,959,642 shares during the period. Los Angeles Capital Management LLC boosted its position in ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider's stock valued at $141,694,000 after purchasing an additional 241,195 shares during the last quarter. Greenvale Capital LLP grew its stake in ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock valued at $138,780,000 after purchasing an additional 275,000 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in ResMed by 19.3% in the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider's stock valued at $126,670,000 after purchasing an additional 107,279 shares in the last quarter. Finally, Tandem Investment Advisors Inc. increased its position in ResMed by 3.0% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider's stock worth $95,976,000 after purchasing an additional 14,590 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Performance

NYSE RMD traded down $1.51 during trading on Wednesday, hitting $242.89. The company's stock had a trading volume of 1,105,423 shares, compared to its average volume of 1,051,976. ResMed Inc. has a 52 week low of $138.55 and a 52 week high of $260.49. The firm has a market cap of $35.65 billion, a P/E ratio of 32.17, a price-to-earnings-growth ratio of 2.05 and a beta of 0.69. The firm has a 50 day moving average price of $241.90 and a 200 day moving average price of $219.15. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm posted $1.64 earnings per share. ResMed's revenue was up 11.1% compared to the same quarter last year. Equities research analysts forecast that ResMed Inc. will post 9.16 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed's payout ratio is presently 28.08%.

Analysts Set New Price Targets

Several equities research analysts recently commented on RMD shares. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a research note on Friday, October 25th. Baird R W raised shares of ResMed to a "strong-buy" rating in a research report on Tuesday, September 24th. Wolfe Research restated an "underperform" rating and set a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Bank of America lifted their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Finally, StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ResMed presently has a consensus rating of "Moderate Buy" and an average price target of $225.70.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of the company's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $238.48, for a total value of $1,015,924.80. Following the completion of the transaction, the insider now owns 21,788 shares of the company's stock, valued at $5,196,002.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of the business's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total value of $1,015,924.80. Following the sale, the insider now owns 21,788 shares of the company's stock, valued at $5,196,002.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Justin Leong sold 48,000 shares of the company's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,874 shares of company stock valued at $28,151,142 over the last three months. 0.71% of the stock is owned by corporate insiders.

About ResMed

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.