Sienna Gestion Acquires 25,620 Shares of ResMed Inc. (NYSE:RMD)

Sienna Gestion raised its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 1,100.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,949 shares of the medical equipment provider's stock after purchasing an additional 25,620 shares during the period. Sienna Gestion's holdings in ResMed were worth $6,391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider's stock valued at $1,528,590,000 after purchasing an additional 116,918 shares during the period. Geode Capital Management LLC boosted 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 worth $939,114,000 after acquiring an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of 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 worth $181,237,000 after acquiring an additional 2,406 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of ResMed by 60.0% in 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 acquiring an additional 250,746 shares during the period. 54.98% of the stock is owned by institutional investors.

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Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction dated 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 directly owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction dated 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 $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. raised 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. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a report on Saturday. Stifel Nicolaus cut their price target on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. Finally, Piper Sandler increased their price objective on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating 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, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ResMed currently has an average rating of "Moderate Buy" and a consensus price target of $243.82.

ResMed Price Performance

NYSE RMD traded down $4.67 during trading hours on Tuesday, reaching $220.07. 710,566 shares of the stock traded hands, compared to its average volume of 963,267. The stock has a 50 day simple moving average of $236.09 and a two-hundred day simple moving average of $239.66. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. 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 company has a market cap of $32.32 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

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, analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

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

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.