ResMed Inc. $RMD Position Increased by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 14.4% during the fourth quarter, Holdings Channel reports. The firm owned 408,866 shares of the medical equipment provider’s stock after acquiring an additional 51,381 shares during the quarter. AustralianSuper Pty Ltd’s holdings in ResMed were worth $98,484,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Jones Financial Companies Lllp boosted its holdings in shares of ResMed by 52.6% in the 1st quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after buying an additional 994 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in ResMed in the second quarter worth about $389,000. Brown Advisory Inc. boosted its stake in ResMed by 17.8% in the second quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock valued at $409,000 after acquiring an additional 240 shares during the period. Cresset Asset Management LLC bought a new position in shares of ResMed during the second quarter valued at approximately $206,000. Finally, Alliancebernstein L.P. grew its holdings in shares of ResMed by 24.2% during the second quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock valued at $73,808,000 after purchasing an additional 55,790 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RMD has been the topic of several recent research reports. JPMorgan Chase & Co. initiated coverage on ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating on the stock. Piper Sandler upped their price objective on ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. KeyCorp dropped their target price on ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Citigroup reduced their price target on shares of ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Finally, Evercore set a $255.00 price target on shares of ResMed and gave the stock an “outperform” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $286.18.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $251.03, for a total value of $1,252,890.73. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at $117,035,959.69. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold 18,973 shares of company stock valued at $4,386,031 over the last quarter. Insiders own 0.65% of the company’s stock.

ResMed Trading Up 0.1%

NYSE:RMD opened at $202.55 on Friday. The stock has a market cap of $29.51 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. ResMed Inc. has a 1 year low of $198.61 and a 1 year high of $293.81. The business has a fifty day moving average of $225.07 and a 200-day moving average of $242.81.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.37 earnings per share. Equities analysts predict that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s dividend payout ratio is currently 23.14%.

ResMed Company 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.