ResMed Inc. (NYSE:RMD) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp increased its stake in ResMed Inc. (NYSE:RMD) by 15.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,141 shares of the medical equipment provider’s stock after acquiring an additional 3,164 shares during the period. Cibc World Markets Corp’s holdings in ResMed were worth $5,292,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMD. Geode Capital Management LLC lifted its position in 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 buying an additional 380,383 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in ResMed by 60.0% during the fourth 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 lifted its position in ResMed by 726.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after buying an additional 249,454 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in ResMed during the fourth quarter valued at approximately $50,364,000. Finally, Nordea Investment Management AB lifted its position in ResMed by 92.7% during the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after buying an additional 215,561 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley assumed coverage on shares of ResMed in a research report on Wednesday. They set an “overweight” rating and a $280.00 price target on the stock. JPMorgan Chase & Co. boosted 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. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. The Goldman Sachs Group assumed coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Finally, Piper Sandler boosted their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $246.83.

ResMed Stock Up 0.8 %

Shares of NYSE:RMD opened at $222.07 on Thursday. 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 fifty day simple moving average of $235.48 and a 200 day simple moving average of $239.36. The firm has a market cap of $32.61 billion, a PE ratio of 26.22, a price-to-earnings-growth 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 issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid 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 0.95%. ResMed’s payout ratio is 25.03%.

Insider Buying and Selling at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. The trade was a 50.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,940 shares of company stock worth $9,164,385 over the last 90 days. Insiders own 0.71% of the company’s stock.

ResMed Profile

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.