Vanguard Group Inc. Lowers Stock Position in ResMed Inc. $RMD

Vanguard Group Inc. lowered its position in ResMed Inc. (NYSE:RMD - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,882,403 shares of the medical equipment provider's stock after selling 158,037 shares during the period. Vanguard Group Inc. owned about 12.94% of ResMed worth $4,548,204,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP grew its position in ResMed by 285.1% during the third quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider's stock valued at $121,864,000 after buying an additional 329,588 shares during the period. Marshall Wace LLP grew its position in ResMed by 2,373.1% during the third quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider's stock valued at $85,126,000 after buying an additional 298,412 shares during the period. Nordea Investment Management AB grew its position in ResMed by 37.2% during the fourth quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider's stock valued at $262,027,000 after buying an additional 294,124 shares during the period. Giverny Capital Inc. bought a new position in ResMed during the third quarter valued at about $64,441,000. Finally, Danske Bank A S bought a new position in ResMed during the third quarter valued at about $44,220,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RMD. Wells Fargo & Company increased their price target on shares of ResMed from $265.00 to $270.00 and gave the company an "equal weight" rating in a research report on Friday, January 30th. KeyCorp cut their target price on shares of ResMed from $302.00 to $290.00 and set an "overweight" rating for the company in a research report on Monday. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Piper Sandler increased their target price on shares of ResMed from $270.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. Finally, Stifel Nicolaus increased their target price on shares of ResMed from $260.00 to $265.00 and gave the stock a "hold" rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $294.55.

ResMed Trading Up 1.0%

Shares of ResMed stock opened at $222.11 on Tuesday. ResMed Inc. has a 12-month low of $216.68 and a 12-month high of $293.81. The company has a market cap of $32.36 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 1.45 and a beta of 0.93. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The company's 50-day moving average price is $235.91 and its 200-day moving average price is $247.55.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm posted $2.43 earnings per share. The company's revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities analysts expect that ResMed Inc. will post 11.05 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, February 12th. ResMed's dividend payout ratio is presently 23.74%.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $225.50, for a total value of $1,125,470.50. Following the sale, the chief executive officer directly owned 466,223 shares of the company's stock, valued at approximately $105,133,286.50. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 21,023 shares of company stock worth $5,230,857. Insiders own 0.65% of the company's stock.

ResMed Profile

ResMed NYSE: RMD is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed's product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.

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