Czech National Bank Has $7.55 Million Stake in ResMed Inc. (NYSE:RMD)

Czech National Bank raised its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 6.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,733 shares of the medical equipment provider's stock after purchasing an additional 1,904 shares during the quarter. Czech National Bank's holdings in ResMed were worth $7,551,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in ResMed by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock valued at $4,156,089,000 after buying an additional 160,590 shares in the last quarter. Geode Capital Management LLC lifted its holdings in ResMed by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock valued at $899,860,000 after acquiring an additional 85,270 shares during the last quarter. Invesco Ltd. boosted its position in shares of ResMed by 32.2% during the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after purchasing an additional 566,046 shares in the last quarter. Northern Trust Corp boosted its position in shares of ResMed by 20.6% during the 4th quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider's stock valued at $389,365,000 after purchasing an additional 290,664 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in ResMed by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider's stock valued at $218,861,000 after purchasing an additional 32,973 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen cut ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Morgan Stanley set a $286.00 price target on ResMed and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. Stifel Nicolaus reduced their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Finally, Piper Sandler decreased their target price on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $259.33.

Insider Transactions at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 9,725 shares of the company's stock, valued at $2,327,289.75. The trade was a 50.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Witte Jan De sold 2,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the transaction, the director now owns 5,806 shares in the company, valued at approximately $1,413,586.82. This trade represents a 25.62% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,877 shares of company stock valued at $9,231,634. 0.71% of the stock is owned by insiders.

ResMed Stock Down 0.1%

Shares of RMD traded down $0.24 during trading hours on Thursday, reaching $249.70. The company's stock had a trading volume of 626,314 shares, compared to its average volume of 1,010,288. The company has a 50 day moving average of $231.73 and a two-hundred day moving average of $234.48. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a market cap of $36.61 billion, a price-to-earnings ratio of 29.48, a P/E/G ratio of 1.53 and a beta of 0.78. 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 released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share 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 firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the business earned $2.13 EPS. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

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

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.