UniSuper Management Pty Ltd Purchases 2,138 Shares of ResMed Inc. (NYSE:RMD)

UniSuper Management Pty Ltd grew its stake in ResMed Inc. (NYSE:RMD - Free Report) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,610 shares of the medical equipment provider's stock after purchasing an additional 2,138 shares during the period. UniSuper Management Pty Ltd's holdings in ResMed were worth $15,004,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of RMD. True Wealth Design LLC raised its stake in shares of ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 110 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of ResMed in the 4th quarter valued at $39,000. BankPlus Trust Department acquired a new position in shares of ResMed in the 4th quarter valued at $44,000. Rosenberg Matthew Hamilton bought a new position in shares of ResMed during the 4th quarter worth about $54,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of ResMed during the 4th quarter worth about $67,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on RMD. Stifel Nicolaus cut their price target on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. KeyCorp boosted their price target on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Morgan Stanley began coverage on ResMed in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, ResMed has an average rating of "Moderate Buy" and a consensus price target of $249.73.

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ResMed Trading Down 0.7 %

NYSE:RMD traded down $1.54 during trading hours on Tuesday, hitting $222.31. 173,531 shares of the stock were exchanged, compared to its average volume of 1,000,169. The company has a market capitalization of $32.65 billion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company's 50 day moving average is $233.37 and its two-hundred day moving average is $237.83. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts anticipate 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. Investors of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed's dividend payout ratio (DPR) is 25.03%.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction dated 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 sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock worth $9,164,385 over the last ninety days. Company insiders own 0.71% of the company's stock.

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.