ResMed Inc. (NYSE:RMD) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in ResMed Inc. (NYSE:RMD - Free Report) by 2.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 186,776 shares of the medical equipment provider's stock after buying an additional 5,284 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of ResMed worth $45,596,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RMD. OFI Invest Asset Management acquired a new position in shares of ResMed during the second quarter valued at approximately $32,000. Versant Capital Management Inc raised its holdings in shares of ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider's stock valued at $35,000 after acquiring an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new position in shares of ResMed during the second quarter valued at approximately $37,000. Blue Trust Inc. raised its holdings in shares of ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider's stock valued at $42,000 after acquiring an additional 137 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of ResMed in the second quarter valued at approximately $44,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RMD shares. Bank of America increased their price target on ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a report on Friday, October 25th. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. Royal Bank of Canada raised their target price on ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. Finally, KeyCorp raised their target price on ResMed from $251.00 to $266.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ResMed presently has a consensus rating of "Moderate Buy" and an average target price of $225.70.

Insider Buying and Selling

In other ResMed news, General Counsel Michael J. Rider sold 882 shares of the firm's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total value of $203,742.00. Following the transaction, the general counsel now directly owns 10,512 shares of the company's stock, valued at $2,428,272. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $246.42, for a total value of $246,420.00. Following the transaction, the chief financial officer now directly owns 96,812 shares of the company's stock, valued at $23,856,413.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Michael J. Rider sold 882 shares of ResMed stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total value of $203,742.00. Following the sale, the general counsel now directly owns 10,512 shares in the company, valued at approximately $2,428,272. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,260 shares of company stock valued at $14,887,967. 0.71% of the stock is currently owned by company insiders.

ResMed Price Performance

NYSE:RMD traded down $3.69 during trading hours on Monday, reaching $248.69. 872,087 shares of the company traded hands, compared to its average volume of 1,050,288. The firm's 50-day moving average is $243.36 and its 200-day moving average is $222.62. The stock has a market cap of $36.51 billion, a P/E ratio of 33.43, a P/E/G ratio of 1.85 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. ResMed Inc. has a 1-year low of $140.81 and a 1-year high of $260.49.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter last year, the firm earned $1.64 earnings per share. The business's revenue was up 11.1% on a year-over-year basis. Equities research analysts expect that ResMed Inc. will post 9.22 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, November 7th. ResMed's dividend payout ratio (DPR) is 28.08%.

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.