ResMed Inc. (NYSE:RMD) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 1,020.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,328 shares of the medical equipment provider's stock after buying an additional 12,139 shares during the quarter. Canada Pension Plan Investment Board's holdings in ResMed were worth $3,048,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in ResMed by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock valued at $4,156,089,000 after acquiring an additional 160,590 shares in the last quarter. Geode Capital Management LLC grew its position in shares of ResMed by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock valued at $899,860,000 after purchasing an additional 85,270 shares in the last quarter. Invesco Ltd. increased its holdings in shares of ResMed by 32.2% in the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after purchasing an additional 566,046 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in ResMed by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider's stock worth $218,861,000 after buying an additional 32,973 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider's stock worth $152,973,000 after buying an additional 250,746 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of the company's stock in a transaction dated Monday, March 10th. The stock was 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 in the company, valued at $2,327,289.75. This represents a 50.05 % decrease in their position. 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 stock in a transaction dated Friday, February 7th. The shares were 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 in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,013 shares of company stock valued at $11,298,816. 0.71% of the stock is currently owned by company insiders.

ResMed Stock Performance

Shares of ResMed stock opened at $214.40 on Wednesday. The stock has a market capitalization of $31.49 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. 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 business has a 50-day moving average of $222.11 and a 200 day moving average of $234.16. ResMed Inc. has a 12 month low of $179.00 and a 12 month high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating 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%. As a group, sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared 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 of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.99%. ResMed's dividend payout ratio (DPR) is 25.03%.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of recent research reports. Piper Sandler raised their target price on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Citigroup raised shares of ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. KeyCorp dropped their price target on shares of ResMed from $280.00 to $269.00 and set an "overweight" rating for the company in a research note on Monday. UBS Group upgraded shares of ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Finally, StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $250.08.

ResMed 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.

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