Price T Rowe Associates Inc. MD Buys 2,406 Shares of ResMed Inc. (NYSE:RMD)

Price T Rowe Associates Inc. MD boosted its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 0.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 310,971 shares of the medical equipment provider's stock after buying an additional 2,406 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.21% of ResMed worth $71,117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in shares of ResMed during the fourth quarter valued at about $39,000. BankPlus Trust Department bought a new position in ResMed during the 4th quarter valued at approximately $44,000. Rosenberg Matthew Hamilton bought a new position in ResMed during the 4th quarter valued at approximately $54,000. SBI Securities Co. Ltd. purchased a new stake in ResMed in the 4th quarter worth approximately $67,000. Finally, Kentucky Trust Co bought a new stake in shares of ResMed in the 4th quarter worth approximately $82,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Activity at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares of the company's stock, valued at $18,695,249.98. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,013 shares of company stock valued at $11,298,816 over the last 90 days. Corporate insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler decreased their target price on ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. StockNews.com upgraded shares of ResMed from a "hold" rating to a "buy" rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Stifel Nicolaus decreased their price target on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Finally, Mizuho set a $265.00 price objective on ResMed in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $258.83.

ResMed Stock Up 1.4 %

NYSE:RMD traded up $3.35 during trading hours on Friday, reaching $239.84. 608,788 shares of the company traded hands, compared to its average volume of 1,007,636. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The business's 50-day moving average price is $222.32 and its two-hundred day moving average price is $233.90. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05. The stock has a market capitalization of $35.17 billion, a P/E ratio of 28.32, a P/E/G ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm earned $2.13 EPS. ResMed's quarterly revenue was up 7.9% compared to the same quarter last year. Analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's payout ratio is 23.79%.

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.