UniSuper Management Pty Ltd Acquires 2,138 Shares of ResMed Inc. (NYSE:RMD)

UniSuper Management Pty Ltd increased its holdings in ResMed Inc. (NYSE:RMD) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,610 shares of the medical equipment provider’s stock after purchasing an additional 2,138 shares during the period. UniSuper Management Pty Ltd’s holdings in ResMed were worth $15,004,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RMD. Geode Capital Management LLC grew its position in shares of ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after purchasing an additional 380,383 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in ResMed by 60.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after buying an additional 250,746 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in ResMed by 726.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after acquiring an additional 249,454 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of ResMed during the 4th quarter worth approximately $50,364,000. Finally, Nordea Investment Management AB boosted its position in shares of ResMed by 92.7% during the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after acquiring an additional 215,561 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RMD shares. Morgan Stanley assumed coverage on shares of ResMed in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price target on the stock. Stifel Nicolaus reduced their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. KeyCorp boosted their price objective on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Piper Sandler raised their price objective on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $249.73.

ResMed Stock Up 0.3 %

Shares of RMD opened at $222.62 on Friday. The firm has a fifty day moving average price of $234.10 and a 200-day moving average price of $238.43. 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 firm has a market capitalization of $32.69 billion, a P/E ratio of 26.28, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.95%. ResMed’s payout ratio is currently 25.03%.

Insiders Place Their Bets

In other news, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the transaction, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the sale, the director now owns 75,218 shares of the company’s stock, valued at $17,127,890.78. The trade was a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock worth $9,164,385 in the last ninety days. 0.71% of the stock is owned by company insiders.

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.