Prudential Financial Inc. Lowers Holdings in ResMed Inc. (NYSE:RMD)

Prudential Financial Inc. decreased its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,895 shares of the medical equipment provider's stock after selling 4,635 shares during the quarter. Prudential Financial Inc. owned 0.06% of ResMed worth $19,872,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RMD. ICW Investment Advisors LLC lifted its stake in ResMed by 0.7% during the 4th quarter. ICW Investment Advisors LLC now owns 11,353 shares of the medical equipment provider's stock valued at $2,596,000 after acquiring an additional 77 shares during the period. Corebridge Financial Inc. lifted its position in ResMed by 9.5% during the fourth quarter. Corebridge Financial Inc. now owns 42,292 shares of the medical equipment provider's stock valued at $9,672,000 after purchasing an additional 3,673 shares during the period. Vanguard Group Inc. boosted its holdings in ResMed by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock valued at $4,156,089,000 after purchasing an additional 160,590 shares during the last quarter. LPL Financial LLC grew its position in ResMed by 60.6% during the 4th quarter. LPL Financial LLC now owns 53,342 shares of the medical equipment provider's stock worth $12,199,000 after purchasing an additional 20,135 shares during the period. Finally, Simplify Asset Management Inc. purchased a new position in shares of ResMed during the 4th quarter valued at about $6,893,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

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ResMed Price Performance

NYSE RMD traded up $3.87 during mid-day trading on Monday, hitting $223.81. The stock had a trading volume of 1,086,592 shares, compared to its average volume of 1,003,438. The firm's 50 day moving average is $233.37 and its 200 day moving average is $237.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a market capitalization of $32.87 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.53 and a beta of 0.74. ResMed Inc. has a twelve month low of $172.19 and a twelve 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 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

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 $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.95%. ResMed's dividend payout ratio (DPR) is presently 25.03%.

Wall Street Analyst Weigh In

RMD has been the topic of a number of recent research reports. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, March 25th. KeyCorp upped their price objective on ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Stifel Nicolaus cut their target price on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. increased their price target on shares of ResMed from $270.00 to $286.00 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, ResMed has an average rating of "Moderate Buy" and a consensus price target of $249.73.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction 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 sale, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by insiders.

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.