United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,200 shares of the medical equipment provider's stock, valued at approximately $732,000.
Several other institutional investors and hedge funds also recently modified their holdings of RMD. UNIVEST FINANCIAL Corp lifted its holdings in ResMed by 10.2% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 15,838 shares of the medical equipment provider's stock worth $3,622,000 after purchasing an additional 1,470 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of ResMed by 26.4% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 111,451 shares of the medical equipment provider's stock worth $25,488,000 after buying an additional 23,250 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of ResMed by 5.0% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,903 shares of the medical equipment provider's stock worth $664,000 after buying an additional 138 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of ResMed in the 4th quarter worth approximately $347,000. Finally, ICW Investment Advisors LLC boosted its holdings in shares of ResMed by 0.7% in the fourth quarter. ICW Investment Advisors LLC now owns 11,353 shares of the medical equipment provider's stock valued at $2,596,000 after acquiring an additional 77 shares in the last quarter. Institutional investors own 54.98% of the company's stock.
Insider Activity
In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of ResMed stock in a transaction on Monday, March 10th. The shares were 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 of the company's stock, valued at $2,327,289.75. This trade represents a 50.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total transaction of $455,420.00. Following the completion of the transaction, the director now directly owns 75,218 shares in the company, valued at $17,127,890.78. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock worth $9,164,385 in the last 90 days. Company insiders own 0.71% of the company's stock.
ResMed Trading Down 1.2 %
ResMed stock traded down $2.77 during midday trading on Friday, reaching $219.85. The stock had a trading volume of 542,418 shares, compared to its average volume of 1,003,105. ResMed Inc. has a twelve month low of $172.19 and a twelve month 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 firm has a market cap of $32.29 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.53 and a beta of 0.74. The firm's fifty day simple moving average is $233.70 and its two-hundred day simple moving average is $238.13.
ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping 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%. Equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.
ResMed Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.96%. ResMed's dividend payout ratio (DPR) is presently 25.03%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on RMD shares. JPMorgan Chase & Co. boosted their target price on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Piper Sandler boosted their price objective on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. UBS Group upgraded 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 Tuesday, March 25th. Finally, KeyCorp boosted their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. One equities research 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $249.73.
Check Out Our Latest Research Report on ResMed
ResMed Company Profile
(
Free Report)
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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