Northern Trust Corp Has $389.37 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

Northern Trust Corp increased its position in ResMed Inc. (NYSE:RMD - Free Report) by 20.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,702,590 shares of the medical equipment provider's stock after purchasing an additional 290,664 shares during the quarter. Northern Trust Corp owned approximately 1.16% of ResMed worth $389,365,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Optiver Holding B.V. bought a new stake in shares of ResMed during the fourth quarter worth approximately $33,000. Aquatic Capital Management LLC bought a new stake in shares of ResMed during the 4th quarter valued at $11,107,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of ResMed in the 4th quarter valued at $4,806,000. Virtus ETF Advisers LLC bought a new position in shares of ResMed in the 4th quarter worth $1,066,000. Finally, Nebula Research & Development LLC acquired a new stake in shares of ResMed during the fourth quarter worth $532,000. 54.98% of the stock is owned by institutional investors.

ResMed Trading Up 1.5 %

Shares of ResMed stock opened at $237.72 on Wednesday. The stock has a market cap of $34.91 billion, a P/E ratio of 28.07, a P/E/G ratio of 1.53 and a beta of 0.75. 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 12-month low of $179.42 and a 12-month high of $263.05. The business's 50 day moving average is $222.00 and its 200-day moving average is $233.98.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The firm had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.13 earnings per share. Equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of recent analyst reports. Mizuho set a $265.00 target price on ResMed in a report on Wednesday, April 16th. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research note on Friday, January 31st. Morgan Stanley began coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price target on the stock. KeyCorp set a $274.00 price objective on shares of ResMed in a research report on Thursday, April 24th. Finally, Piper Sandler reduced their target price on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a 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 assigned 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 $258.83.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,327,289.75. This represents a 50.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,013 shares of company stock worth $11,298,816 over the last 90 days. Company insiders own 0.71% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.