UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 212,201 Shares of ResMed Inc. (NYSE:RMD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in ResMed Inc. (NYSE:RMD - Free Report) by 28.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 954,612 shares of the medical equipment provider's stock after purchasing 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.

Other hedge funds also recently modified their holdings of the company. Colonial Trust Co SC raised its holdings in ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after acquiring an additional 125 shares during the period. Optiver Holding B.V. acquired a new position in shares of ResMed in the fourth quarter valued at approximately $33,000. Itau Unibanco Holding S.A. increased its stake in shares of ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after purchasing an additional 150 shares during the period. OFI Invest Asset Management acquired a new stake in ResMed during the 4th quarter worth approximately $39,000. Finally, Coppell Advisory Solutions LLC boosted its stake in ResMed by 1,750.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock valued at $42,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their target price on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Stifel Nicolaus decreased their target price on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. KeyCorp set a $274.00 price target on shares of ResMed in a research report on Thursday, April 24th. Finally, Royal Bank of Canada boosted their price target on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and a consensus target price of $259.33.

ResMed Price Performance

NYSE RMD traded down $2.46 on Monday, hitting $243.03. 558,144 shares of the company's stock were exchanged, compared to its average volume of 1,023,468. The stock has a 50-day moving average of $227.88 and a 200-day moving average of $234.16. The stock has a market cap of $35.63 billion, a price-to-earnings ratio of 28.69, a P/E/G ratio of 1.53 and a beta of 0.78. ResMed Inc. has a 52 week low of $179.42 and a 52 week high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. ResMed's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.13 EPS. Analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.87%. ResMed's dividend payout ratio (DPR) is currently 23.79%.

Insider Activity

In other news, Director Witte Jan De sold 2,000 shares of the company's stock in a transaction 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 now directly owns 5,806 shares in the company, valued at approximately $1,413,586.82. This represents a 25.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kaushik Ghoshal sold 9,745 shares of the firm's stock in a transaction 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 sale, the insider now directly owns 9,725 shares in the company, valued at approximately $2,327,289.75. This trade represents a 50.05% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,949 shares of company stock worth $11,822,260. Corporate insiders own 0.71% of the company's stock.

About ResMed

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.