Principal Financial Group Inc. cut its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 184,085 shares of the medical equipment provider's stock after selling 1,703 shares during the quarter. Principal Financial Group Inc. owned about 0.13% of ResMed worth $41,207,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMD. CVA Family Office LLC boosted its position in shares of ResMed by 29.8% during the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock worth $47,000 after purchasing an additional 48 shares in the last quarter. Central Pacific Bank Trust Division boosted its position in shares of ResMed by 9.7% during the first quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider's stock worth $126,000 after purchasing an additional 50 shares in the last quarter. Terra Nova Asset Management LLC boosted its position in shares of ResMed by 0.7% during the first quarter. Terra Nova Asset Management LLC now owns 7,950 shares of the medical equipment provider's stock worth $1,780,000 after purchasing an additional 52 shares in the last quarter. Faithward Advisors LLC boosted its position in shares of ResMed by 4.3% during the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider's stock worth $292,000 after purchasing an additional 53 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its position in shares of ResMed by 3.8% during the first quarter. Portside Wealth Group LLC now owns 1,457 shares of the medical equipment provider's stock worth $326,000 after purchasing an additional 54 shares in the last quarter. 54.98% of the stock is owned by institutional investors.
Analyst Ratings Changes
RMD has been the topic of a number of research analyst reports. UBS Group dropped their price objective on shares of ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Piper Sandler dropped their price objective on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Morgan Stanley set a $286.00 price target on shares of ResMed and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Finally, Royal Bank Of Canada boosted their price objective on shares of ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $259.33.
Check Out Our Latest Research Report on RMD
Insider Activity
In related news, Director Witte Jan De sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total transaction of $486,940.00. Following the completion of the transaction, the director directly owned 5,806 shares in the company, valued at $1,413,586.82. This represents a 25.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total transaction of $484,500.00. Following the transaction, the director owned 71,218 shares of the company's stock, valued at approximately $17,252,560.50. This represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,004 shares of company stock worth $5,182,843. 0.71% of the stock is currently owned by corporate insiders.
ResMed Price Performance
Shares of NYSE:RMD traded up $0.30 during midday trading on Tuesday, hitting $256.71. The stock had a trading volume of 535,223 shares, compared to its average volume of 968,836. The company's 50-day moving average price is $248.88 and its 200-day moving average price is $236.11. The company has a market capitalization of $37.64 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 1.61 and a beta of 0.77. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. ResMed Inc. has a fifty-two week low of $188.56 and a fifty-two week high of $263.05.
ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating the consensus estimate of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.13 EPS. As a group, equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.
ResMed Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Thursday, May 8th. ResMed's payout ratio is presently 23.79%.
About ResMed
(
Free Report)
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.
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