OVERSEA CHINESE BANKING Corp Ltd Acquires 27,132 Shares of ResMed Inc. (NYSE:RMD)

OVERSEA CHINESE BANKING Corp Ltd lifted its position in ResMed Inc. (NYSE:RMD - Free Report) by 139.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,584 shares of the medical equipment provider's stock after buying an additional 27,132 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in ResMed were worth $10,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Generali Asset Management SPA SGR purchased a new position in ResMed during the fourth quarter valued at $4,196,000. Axxcess Wealth Management LLC lifted its position in ResMed by 63.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 9,969 shares of the medical equipment provider's stock valued at $2,280,000 after purchasing an additional 3,853 shares in the last quarter. Parallel Advisors LLC lifted its position in ResMed by 6.4% during the fourth quarter. Parallel Advisors LLC now owns 1,697 shares of the medical equipment provider's stock valued at $388,000 after purchasing an additional 102 shares in the last quarter. Cibc World Markets Corp lifted its position in ResMed by 15.8% during the fourth quarter. Cibc World Markets Corp now owns 23,141 shares of the medical equipment provider's stock valued at $5,292,000 after purchasing an additional 3,164 shares in the last quarter. Finally, SlateStone Wealth LLC lifted its position in ResMed by 6.0% during the fourth quarter. SlateStone Wealth LLC now owns 12,246 shares of the medical equipment provider's stock valued at $2,800,000 after purchasing an additional 696 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley assumed coverage on ResMed in a research report on Wednesday. They issued an "overweight" rating and a $280.00 price objective on the stock. Piper Sandler boosted their price objective on ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They issued a "buy" rating on the stock. UBS Group upgraded ResMed from a "hold" rating to a "strong-buy" rating in a research 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 research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and an average price target of $246.83.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock valued at $9,164,385 over the last ninety days. 0.71% of the stock is owned by insiders.

ResMed Trading Down 0.6 %

NYSE RMD traded down $1.35 during trading hours on Friday, hitting $219.77. 1,171,311 shares of the company were exchanged, compared to its average volume of 959,797. The stock has a 50-day moving average price of $234.91 and a 200 day moving average price of $239.02. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The stock has a market cap of $32.28 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data 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 return on equity of 26.17% and a net margin of 25.34%. Analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.96%. ResMed's payout ratio is currently 25.03%.

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.