ResMed Inc. (NYSE:RMD) Shares Purchased by Twin Capital Management Inc.

Twin Capital Management Inc. increased its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 111.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,559 shares of the medical equipment provider's stock after buying an additional 1,877 shares during the period. Twin Capital Management Inc.'s holdings in ResMed were worth $814,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RMD. Invesco Ltd. grew its stake in ResMed by 32.2% during the 4th 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 in the last quarter. Norges Bank purchased a new position in shares of ResMed during the 4th quarter valued at approximately $118,605,000. Geode Capital Management LLC boosted its stake in shares of ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock valued at $939,114,000 after buying an additional 380,383 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of 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 in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of ResMed in the fourth quarter worth $50,364,000. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Stock Performance

NYSE:RMD traded up $3.04 during mid-day trading on Friday, hitting $213.59. The stock had a trading volume of 2,305,933 shares, compared to its average volume of 1,024,231. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $31.37 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 1.53 and a beta of 0.75. The company has a 50 day simple moving average of $225.64 and a 200-day simple moving average of $235.39.

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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, 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, research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders 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 dividend yield of 0.99%. ResMed's payout ratio is 25.03%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RMD shares. Morgan Stanley assumed coverage on shares of ResMed in a report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price objective for the company. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Piper Sandler increased their target price on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a report on Friday, January 31st. Finally, StockNews.com cut ResMed from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $249.73.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $209.85, for a total value of $1,680,688.65. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at approximately $95,580,799.20. This represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm'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 transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,013 shares of company stock valued at $11,298,816. Company insiders own 0.71% of the company's stock.

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.