PGGM Investments Has $5.40 Million Stake in ResMed Inc. (NYSE:RMD)

PGGM Investments increased its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 1,035.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,613 shares of the medical equipment provider's stock after purchasing an additional 21,534 shares during the period. PGGM Investments' holdings in ResMed were worth $5,400,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RMD. Ashton Thomas Securities LLC acquired a new stake in shares of ResMed during the third quarter worth $34,000. Venturi Wealth Management LLC lifted its holdings in ResMed by 55.7% during the third quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider's stock worth $83,000 after acquiring an additional 122 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in ResMed by 15.1% during the third quarter. Apollon Wealth Management LLC now owns 1,451 shares of the medical equipment provider's stock worth $354,000 after acquiring an additional 190 shares in the last quarter. GSA Capital Partners LLP bought a new position in ResMed during the third quarter worth about $410,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in ResMed by 4.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 345,542 shares of the medical equipment provider's stock worth $84,354,000 after acquiring an additional 14,465 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the business's stock in a transaction that occurred 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 transaction, the insider now directly owns 9,725 shares in the company, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their position. 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 over the last 90 days. 0.71% of the stock is currently owned by insiders.

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ResMed Stock Down 2.1 %

RMD traded down $4.67 on Tuesday, hitting $220.07. 710,559 shares of the company were exchanged, compared to its average volume of 983,444. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The company has a market cap of $32.32 billion, a PE ratio of 25.98, a PEG ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock's fifty day moving average is $236.09 and its 200-day moving average is $239.66.

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 (EPS) for the quarter, topping the consensus estimate 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 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, February 13th. ResMed's dividend payout ratio (DPR) is presently 25.03%.

Analyst Ratings Changes

Several research firms have weighed in on RMD. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a report on Saturday. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. lifted their target price on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Piper Sandler lifted their target price on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Finally, KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $243.82.

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.