UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Holdings in ResMed Inc. (NYSE:RMD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in ResMed Inc. (NYSE:RMD - Free Report) by 28.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 954,612 shares of the medical equipment provider's stock after buying an additional 212,201 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.65% of ResMed worth $218,310,000 as of its most recent SEC filing.

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

ResMed Price Performance

Shares of NYSE:RMD traded down $0.35 during midday trading on Wednesday, hitting $245.87. The company had a trading volume of 184,581 shares, compared to its average volume of 1,020,287. ResMed Inc. has a twelve month low of $179.42 and a twelve month high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a market cap of $36.05 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. The business's 50-day simple moving average is $228.80 and its 200-day simple moving average is $234.18.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly 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. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The firm had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter last year, the firm earned $2.13 earnings per share. The business's revenue for the quarter was up 7.9% on a year-over-year basis. On average, research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.86%. ResMed's dividend payout ratio is presently 23.79%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RMD shares. Mizuho set a $265.00 price target on ResMed in a research report on Wednesday, April 16th. KeyCorp set a $274.00 price target on ResMed in a research report on Thursday, April 24th. Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a research report on Saturday. Morgan Stanley set a $286.00 price target on ResMed and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Finally, UBS Group lowered their price target on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $259.33.

Insider Activity at ResMed

In related news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,289,265. This trade represents a 48.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Witte Jan De sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the sale, the director now directly owns 5,806 shares of the company's stock, valued at approximately $1,413,586.82. This represents a 25.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,949 shares of company stock valued at $11,822,260. 0.71% of the stock is currently owned by insiders.

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.