ResMed Inc. (NYSE:RMD) Shares Purchased by PGGM Investments

PGGM Investments grew its stake in shares of ResMed Inc. (NYSE:RMD) by 1,035.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,613 shares of the medical equipment provider’s stock after purchasing an additional 21,534 shares during the quarter. PGGM Investments’ holdings in ResMed were worth $5,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. True Wealth Design LLC grew its position in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in ResMed in the third quarter valued at $34,000. OFI Invest Asset Management acquired a new position in ResMed in the fourth quarter valued at $39,000. BankPlus Trust Department purchased a new position in shares of ResMed during the fourth quarter worth about $44,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in shares of ResMed during the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other news, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the transaction, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. This trade represents a 50.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RMD. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Piper Sandler lifted their target price on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a research note on Thursday, January 16th. They set a “buy” rating for the company. Finally, Stifel Nicolaus dropped their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $243.82.

ResMed Trading Down 0.4 %

Shares of ResMed stock opened at $219.31 on Friday. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a market cap of $32.21 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The company’s 50-day simple moving average is $236.44 and its 200-day simple moving average is $239.84.

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

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio 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.