ResMed Inc. (NYSE:RMD) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. grew its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 305,237 shares of the medical equipment provider's stock after acquiring an additional 62,010 shares during the period. Ameriprise Financial Inc. owned 0.21% of ResMed worth $69,801,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Aptus Capital Advisors LLC purchased a new stake in shares of ResMed in the fourth quarter worth $344,000. AXA S.A. raised its position in ResMed by 8.6% during the fourth quarter. AXA S.A. now owns 56,640 shares of the medical equipment provider's stock valued at $12,953,000 after purchasing an additional 4,487 shares in the last quarter. 1248 Management LLC purchased a new stake in ResMed during the fourth quarter valued at about $1,072,000. Meiji Yasuda Life Insurance Co raised its position in ResMed by 4.6% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 1,356 shares of the medical equipment provider's stock valued at $310,000 after purchasing an additional 60 shares in the last quarter. Finally, Wahed Invest LLC raised its position in ResMed by 4.1% during the fourth quarter. Wahed Invest LLC now owns 3,673 shares of the medical equipment provider's stock valued at $840,000 after purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

ResMed Stock Performance

RMD stock traded up $0.37 during midday trading on Tuesday, hitting $248.03. 2,145,910 shares of the stock traded hands, compared to its average volume of 1,011,644. The firm has a market cap of $36.37 billion, a P/E ratio of 29.28, a PEG ratio of 1.53 and a beta of 0.78. 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's fifty day simple moving average is $223.85 and its 200-day simple moving average is $233.98. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05.

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

ResMed Announces Dividend

The business 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. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. ResMed's dividend payout ratio (DPR) is 23.79%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RMD. Royal Bank of Canada raised their price objective on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research note on Thursday, April 24th. UBS Group cut their target price on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus cut their target price on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. KeyCorp set a $274.00 target price on ResMed in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group assumed coverage on ResMed in a research note on Thursday, January 16th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, ResMed currently has an average rating of "Moderate Buy" and a consensus target price of $258.83.

Insider Activity

In related news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $104,394,182.40. The trade was a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the transaction, the insider now owns 9,725 shares in the company, valued at $2,289,265. The trade was a 48.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,949 shares of company stock worth $11,335,320 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

About ResMed

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.