Strategic Global Advisors LLC Raises Stock Holdings in ResMed Inc. (NYSE:RMD)

Strategic Global Advisors LLC raised its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 52.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,837 shares of the medical equipment provider's stock after buying an additional 6,818 shares during the period. Strategic Global Advisors LLC's holdings in ResMed were worth $4,537,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its stake in ResMed by 4.3% in the 4th quarter. Toronto Dominion Bank now owns 51,349 shares of the medical equipment provider's stock worth $11,743,000 after purchasing an additional 2,099 shares during the period. Sherbrooke Park Advisers LLC purchased a new position in shares of ResMed during the fourth quarter valued at $540,000. Royal Bank of Canada grew its holdings in shares of ResMed by 9.5% during the fourth quarter. Royal Bank of Canada now owns 285,051 shares of the medical equipment provider's stock valued at $65,189,000 after buying an additional 24,621 shares in the last quarter. Rafferty Asset Management LLC raised its position in ResMed by 4.3% during the fourth quarter. Rafferty Asset Management LLC now owns 16,650 shares of the medical equipment provider's stock valued at $3,808,000 after buying an additional 693 shares during the period. Finally, Raiffeisen Bank International AG acquired a new stake in ResMed during the 4th quarter worth about $2,088,000. 54.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Kaushik Ghoshal sold 9,113 shares of the firm'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 completion of the transaction, the insider now owns 9,725 shares in the company, valued at $2,289,265. This trade represents a 48.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $229.20, for a total value of $1,835,662.80. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $104,394,182.40. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,949 shares of company stock worth $11,822,260 in the last three months. Insiders own 0.71% of the company's stock.

ResMed Price Performance

RMD stock traded down $2.42 during mid-day trading on Friday, hitting $243.08. 188,520 shares of the stock were exchanged, compared to its average volume of 1,046,458. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05. The stock has a market capitalization of $35.64 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 1.53 and a beta of 0.78. The business has a fifty day moving average price of $227.42 and a 200 day moving average price of $234.36. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

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, 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 business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company posted $2.13 EPS. ResMed's quarterly revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts anticipate that ResMed Inc. will post 9.47 EPS for the current 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 given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Thursday, May 8th. ResMed's dividend payout ratio is presently 23.79%.

Analysts Set New Price Targets

A number of research firms recently issued reports on RMD. UBS Group reduced their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. Piper Sandler lowered their price target on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Finally, Wall Street Zen raised ResMed from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. One 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $259.33.

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.