Prudential PLC Grows Position in ResMed Inc. (NYSE:RMD)

Prudential PLC grew its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,995 shares of the medical equipment provider's stock after acquiring an additional 1,392 shares during the period. Prudential PLC's holdings in ResMed were worth $4,344,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of RMD. Howard Capital Management Inc. lifted its stake in shares of ResMed by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock worth $206,000 after buying an additional 45 shares during the period. SkyView Investment Advisors LLC increased its position in shares of ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider's stock valued at $637,000 after acquiring an additional 51 shares during the period. Wedmont Private Capital raised its stake in ResMed by 2.6% in the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider's stock worth $475,000 after acquiring an additional 52 shares during the last quarter. HighPoint Advisor Group LLC lifted its position in ResMed by 2.6% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider's stock worth $610,000 after acquiring an additional 64 shares during the period. Finally, Brooklyn Investment Group grew its stake in ResMed by 8.1% during the 4th quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider's stock valued at $208,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

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ResMed Price Performance

Shares of ResMed stock traded up $3.04 during trading hours on Friday, reaching $213.59. The stock had a trading volume of 2,305,933 shares, compared to its average volume of 1,022,780. The stock's 50 day moving average is $225.64 and its 200 day moving average is $235.44. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05. The firm has a market capitalization of $31.37 billion, a PE ratio of 25.22, a PEG ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share 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%. Equities analysts expect 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. Investors of record on Thursday, February 13th were paid 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 yield of 0.99%. ResMed's dividend payout ratio is currently 25.03%.

Analyst Ratings Changes

RMD has been the subject of several research analyst reports. StockNews.com cut ResMed from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. UBS Group raised shares of ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. Morgan Stanley initiated coverage on shares of ResMed in a report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price objective on the stock. JPMorgan Chase & Co. raised their target price 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, Needham & Company LLC restated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, ResMed has an average rating of "Moderate Buy" and an average target price of $249.73.

Insider Buying and Selling

In other news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $95,580,799.20. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,013 shares of company stock valued at $11,298,816. 0.71% of the stock is owned by corporate 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.