Sei Investments Co. Buys 115,192 Shares of ResMed Inc. (NYSE:RMD)

Sei Investments Co. raised its stake in ResMed Inc. (NYSE:RMD - Free Report) by 300.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,525 shares of the medical equipment provider's stock after purchasing an additional 115,192 shares during the period. Sei Investments Co. owned approximately 0.10% of ResMed worth $35,110,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its position in ResMed by 1.9% in the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider's stock worth $1,528,590,000 after purchasing an additional 116,918 shares during the period. Geode Capital Management LLC raised its holdings in shares of ResMed by 10.9% in the third 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. Charles Schwab Investment Management Inc. raised its stake in shares of ResMed by 3.6% in 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 acquiring an additional 32,973 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in ResMed by 0.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider's stock valued at $181,237,000 after buying an additional 2,406 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in shares of ResMed by 60.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider's stock valued at $152,973,000 after acquiring an additional 250,746 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RMD. Morgan Stanley assumed coverage on shares of ResMed in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 target price for the company. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a report on Tuesday. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. lifted their price target on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, Citigroup raised shares of ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $249.73.

Insiders Place Their Bets

In other news, insider Kaushik Ghoshal sold 9,745 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. The trade was a 50.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is currently owned by company insiders.

ResMed Trading Down 0.1 %

RMD stock traded down $0.25 during midday trading on Friday, hitting $222.37. The stock had a trading volume of 35,294 shares, compared to its average volume of 948,964. 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 firm has a market cap of $32.66 billion, a P/E ratio of 26.23, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The business has a fifty day moving average price of $234.10 and a two-hundred day moving average price of $238.43. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data 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, sell-side analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.95%. The ex-dividend date was Thursday, February 13th. ResMed's dividend payout ratio is presently 25.03%.

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.