ResMed Inc. (NYSE:RMD) Shares Bought by Weaver Capital Management LLC

Weaver Capital Management LLC lifted its position in ResMed Inc. (NYSE:RMD) by 30.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,708 shares of the medical equipment provider’s stock after acquiring an additional 636 shares during the quarter. Weaver Capital Management LLC’s holdings in ResMed were worth $619,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in shares of ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after acquiring an additional 116,918 shares in the last quarter. Geode Capital Management LLC boosted its position in ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after acquiring an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. boosted its position in ResMed by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock worth $225,578,000 after acquiring an additional 13,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in ResMed by 0.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock worth $181,237,000 after acquiring an additional 2,406 shares during the period. Finally, Nordea Investment Management AB boosted its position in ResMed by 92.7% during the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after acquiring an additional 215,561 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $240.73 on Wednesday. ResMed Inc. has a 1-year low of $170.56 and a 1-year high of $263.05. 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 company has a market capitalization of $35.34 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 1.69 and a beta of 0.70. The stock’s fifty day simple moving average is $240.00 and its 200-day simple moving average is $236.89.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, sell-side analysts predict that ResMed Inc. will post 9.41 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, March 20th. Stockholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. ResMed’s dividend payout ratio is 25.03%.

Insider Activity

In other ResMed news, Director Witte Jan De sold 796 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now owns 6,723 shares in the company, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares in the company, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,094 shares of company stock worth $2,220,721. 0.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RMD shares. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Stifel Nicolaus initiated coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective on the stock. Robert W. Baird boosted their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Piper Sandler boosted their price objective on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group initiated coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $244.73.

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.