ResMed Inc. (NYSE:RMD) Shares Bought by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. raised its position in ResMed Inc. (NYSE:RMD - Free Report) by 307.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,539 shares of the medical equipment provider's stock after acquiring an additional 35,103 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in ResMed were worth $10,643,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. OFI Invest Asset Management bought a new stake in ResMed during the fourth quarter valued at approximately $39,000. Coppell Advisory Solutions LLC grew its position in shares of ResMed by 1,750.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock valued at $42,000 after acquiring an additional 175 shares during the period. BankPlus Trust Department purchased a new stake in shares of ResMed in the 4th quarter worth $44,000. Rosenberg Matthew Hamilton bought a new position in ResMed in the 4th quarter worth $54,000. Finally, SBI Securities Co. Ltd. purchased a new position in ResMed during the fourth quarter valued at $67,000. 54.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on RMD shares. Royal Bank of Canada lifted their price objective on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research report on Thursday, April 24th. StockNews.com upgraded shares of ResMed from a "hold" rating to a "buy" rating in a research report on Friday. KeyCorp set a $274.00 price objective on shares of ResMed in a research note on Thursday, April 24th. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research note on Friday, January 31st. Finally, UBS Group lowered their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. One research 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $258.83.

ResMed Price Performance

Shares of NYSE RMD traded up $3.35 during midday trading on Friday, reaching $239.84. 608,788 shares of the stock traded hands, compared to its average volume of 1,006,783. The company's 50 day moving average is $222.24 and its 200 day moving average is $233.97. ResMed Inc. has a one year low of $179.42 and a one 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 stock has a market capitalization of $35.17 billion, a PE ratio of 28.32, a P/E/G ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping the consensus estimate of $2.36 by $0.01. The company had revenue of $1.29 billion during 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 firm's revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $2.13 earnings per share. On average, equities research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Insider Transactions at ResMed

In related news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares of the company's stock, valued at $2,289,265. This represents a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares in the company, valued at $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 three months, insiders have sold 49,013 shares of company stock worth $11,298,816. 0.71% of the stock is currently owned by company insiders.

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.