Alberta Investment Management Corp Acquires Shares of 10,400 ResMed Inc. (NYSE:RMD)

Alberta Investment Management Corp bought a new position in shares of ResMed Inc. (NYSE:RMD) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,400 shares of the medical equipment provider’s stock, valued at approximately $2,378,000.

Several other large investors also recently modified their holdings of RMD. True Wealth Design LLC raised its position in ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of ResMed during the third quarter valued at approximately $34,000. Rosenberg Matthew Hamilton purchased a new stake in ResMed in the fourth quarter worth $54,000. Capital Performance Advisors LLP bought a new stake in ResMed in the third quarter valued at $60,000. Finally, Venturi Wealth Management LLC boosted its holdings in ResMed by 55.7% in the third quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock valued at $83,000 after acquiring an additional 122 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the transaction, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,147 shares of company stock valued at $2,905,745. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Piper Sandler upped their target price on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Royal Bank of Canada raised their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Robert W. Baird lifted their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $244.73.

ResMed Trading Down 0.7 %

Shares of NYSE RMD opened at $232.89 on Friday. The firm’s 50 day moving average price is $237.76 and its 200-day moving average price is $239.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed Inc. has a 52-week low of $170.56 and a 52-week high of $263.05. The company has a market cap of $34.20 billion, a PE ratio of 27.50, a P/E/G ratio of 1.52 and a beta of 0.70.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share 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%. On average, equities research analysts expect that ResMed Inc. will post 9.44 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.91%. ResMed’s dividend payout ratio (DPR) is 25.03%.

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.