9,097 Shares in ResMed Inc. (NYSE:RMD) Purchased by Raiffeisen Bank International AG

Raiffeisen Bank International AG purchased a new stake in ResMed Inc. (NYSE:RMD - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 9,097 shares of the medical equipment provider's stock, valued at approximately $2,088,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Miracle Mile Advisors LLC lifted its stake in ResMed by 9.2% in the 4th quarter. Miracle Mile Advisors LLC now owns 917 shares of the medical equipment provider's stock worth $210,000 after purchasing an additional 77 shares in the last quarter. Park Avenue Securities LLC lifted its stake in ResMed by 101.1% in the 4th quarter. Park Avenue Securities LLC now owns 4,431 shares of the medical equipment provider's stock worth $1,013,000 after purchasing an additional 2,228 shares in the last quarter. Occidental Asset Management LLC purchased a new position in ResMed in the 4th quarter worth approximately $332,000. Merit Financial Group LLC purchased a new position in ResMed in the 4th quarter worth approximately $460,000. Finally, Brooklyn Investment Group grew its stake in shares of ResMed by 8.1% in the 4th quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider's stock valued at $208,000 after buying an additional 68 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RMD. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. StockNews.com upgraded shares of ResMed from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. upped their target price on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Piper Sandler reduced their price target on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Finally, UBS Group lowered their price objective on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $258.83.

ResMed Stock Down 2.0%

Shares of NYSE:RMD traded down $5.19 during trading on Tuesday, hitting $248.16. 1,431,462 shares of the company's stock traded hands, compared to its average volume of 1,021,538. ResMed Inc. has a 52 week low of $179.42 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 company has a market cap of $36.39 billion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. The company has a 50-day moving average price of $226.00 and a 200-day moving average price of $234.17.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.01. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.13 EPS. As a group, research analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, May 8th. ResMed's payout ratio is 23.79%.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $95,580,799.20. This represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the sale, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,327,289.75. The trade was a 50.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,949 shares of company stock worth $11,335,320. Company insiders own 0.71% of the company's stock.

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.