Caisse DE Depot ET Placement DU Quebec Purchases 93,090 Shares of ResMed Inc. (NYSE:RMD)

Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 32.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 376,891 shares of the medical equipment provider's stock after purchasing an additional 93,090 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.26% of ResMed worth $86,191,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. First Horizon Advisors Inc. grew its position in ResMed by 285.1% in the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock valued at $136,000 after purchasing an additional 439 shares during the period. Peak Financial Advisors LLC acquired a new position in shares of ResMed during the fourth quarter valued at about $2,972,000. Principal Financial Group Inc. increased its position in shares of ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider's stock worth $45,596,000 after acquiring an additional 5,284 shares in the last quarter. Spire Wealth Management raised its holdings in shares of ResMed by 11.3% in the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock worth $2,470,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in ResMed by 2.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider's stock valued at $14,105,000 after acquiring an additional 1,629 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. This represents a 48.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,949 shares of company stock valued at $11,283,302 over the last quarter. Company insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RMD. Royal Bank of Canada boosted their price objective on ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a report on Thursday, April 24th. Piper Sandler lowered their price target on ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research note on Friday, January 31st. StockNews.com upgraded shares of ResMed from a "hold" rating to a "buy" rating in a research note on Friday. Finally, UBS Group dropped their price target on shares of ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $258.83.

ResMed Stock Performance

ResMed stock traded up $0.71 during trading on Monday, hitting $240.66. The stock had a trading volume of 765,969 shares, compared to its average volume of 1,006,670. The stock's 50 day moving average is $222.32 and its two-hundred day moving average is $233.90. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05. The stock has a market cap of $35.29 billion, a price-to-earnings ratio of 28.41, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

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

ResMed Announces Dividend

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

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.