Toronto Dominion Bank Increases Stock Position in ResMed Inc. (NYSE:RMD)

Toronto Dominion Bank grew its position in ResMed Inc. (NYSE:RMD - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,349 shares of the medical equipment provider's stock after buying an additional 2,099 shares during the quarter. Toronto Dominion Bank's holdings in ResMed were worth $11,743,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park Avenue Securities LLC increased its holdings in ResMed by 101.1% during the 4th quarter. Park Avenue Securities LLC now owns 4,431 shares of the medical equipment provider's stock valued at $1,013,000 after acquiring an additional 2,228 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of ResMed in the fourth quarter valued at approximately $460,000. Aaron Wealth Advisors LLC increased its stake in shares of ResMed by 25.2% during the 4th quarter. Aaron Wealth Advisors LLC now owns 1,607 shares of the medical equipment provider's stock worth $368,000 after purchasing an additional 323 shares in the last quarter. Perpetual Ltd purchased a new position in shares of ResMed during the 4th quarter worth approximately $630,000. Finally, Atomi Financial Group Inc. acquired a new position in shares of ResMed during the 4th quarter worth approximately $246,000. Institutional investors and hedge funds own 54.98% of the company's stock.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the transaction, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $95,580,799.20. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 transaction of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares of the company's stock, valued at $2,289,265. The trade was a 48.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,949 shares of company stock worth $11,822,260. 0.71% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on RMD. JPMorgan Chase & Co. increased their target price on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. KeyCorp set a $274.00 price objective on ResMed in a research note on Thursday, April 24th. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. Piper Sandler reduced their target price 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. Finally, Morgan Stanley set a $286.00 price target on shares of ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ResMed currently has a consensus rating of "Moderate Buy" and a consensus target price of $259.33.

ResMed Trading Down 1.0%

Shares of RMD stock traded down $2.46 during trading hours on Monday, hitting $243.03. 558,144 shares of the company were exchanged, compared to its average volume of 1,023,468. The firm has a fifty day moving average of $227.88 and a 200 day moving average of $234.16. 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 Inc. has a 1 year low of $179.42 and a 1 year high of $263.05. The firm has a market cap of $35.63 billion, a PE ratio of 28.69, a PEG ratio of 1.53 and a beta of 0.78.

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, topping the consensus estimate of $2.36 by $0.01. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. ResMed's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.13 earnings per share. Analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors 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 of this dividend is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is currently 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.