ResMed Inc. (NYSE:RMD) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC grew its stake in ResMed Inc. (NYSE:RMD - Free Report) by 194.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 247,700 shares of the medical equipment provider's stock after purchasing an additional 163,700 shares during the period. Renaissance Technologies LLC owned approximately 0.17% of ResMed worth $56,647,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of RMD. First Horizon Advisors Inc. increased its position in ResMed by 285.1% in the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock worth $136,000 after purchasing an additional 439 shares during the period. Peak Financial Advisors LLC bought a new stake in ResMed during the 4th quarter worth approximately $2,972,000. Principal Financial Group Inc. boosted its position in shares of ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider's stock worth $45,596,000 after buying an additional 5,284 shares during the period. Spire Wealth Management grew its position in ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock valued at $2,470,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of ResMed by 2.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider's stock valued at $14,105,000 after buying an additional 1,629 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Price Performance

Shares of ResMed stock traded down $2.16 during mid-day trading on Tuesday, reaching $212.37. 280,546 shares of the stock traded hands, compared to its average volume of 1,024,237. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The stock has a market capitalization of $31.19 billion, a PE ratio of 25.07, a PEG ratio of 1.53 and a beta of 0.75. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average of $225.09 and a 200 day moving average of $235.22.

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, beating 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%. On average, analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 1.00%. ResMed's dividend payout ratio is currently 25.03%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RMD shares. JPMorgan Chase & Co. increased their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Morgan Stanley initiated coverage on ResMed in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price objective on the stock. Piper Sandler boosted their price target on ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a report on Friday, January 31st. Finally, KeyCorp increased their price target on shares of ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $249.73.

Insider Transactions at ResMed

In related news, insider Kaushik Ghoshal sold 9,745 shares of ResMed stock in a transaction on Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now owns 9,725 shares of the company's stock, valued at $2,327,289.75. The trade was a 50.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company's stock, valued at $95,580,799.20. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,013 shares of company stock valued at $11,298,816 in the last ninety days. 0.71% of the stock is currently owned by company 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.