Royal London Asset Management Ltd. Boosts Stock Holdings in ResMed Inc. (NYSE:RMD)

Royal London Asset Management Ltd. boosted its position in shares of ResMed Inc. (NYSE:RMD) by 5.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 76,812 shares of the medical equipment provider’s stock after buying an additional 4,094 shares during the period. Royal London Asset Management Ltd.’s holdings in ResMed were worth $17,566,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Howard Capital Management Inc. increased its stake in ResMed by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after buying an additional 45 shares in the last quarter. Ascent Group LLC grew its position in shares of ResMed by 1.7% in the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after purchasing an additional 48 shares in the last quarter. SkyView Investment Advisors LLC grew its position in shares of ResMed by 2.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after purchasing an additional 51 shares in the last quarter. Wedmont Private Capital grew its position in shares of ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after purchasing an additional 52 shares in the last quarter. Finally, Brooklyn Investment Group grew its position in shares of ResMed by 8.1% in the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock valued at $208,000 after purchasing an additional 68 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on RMD. JPMorgan Chase & Co. upped their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Saturday, March 15th. Stifel Nicolaus dropped their price target on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. The Goldman Sachs Group started coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. Finally, Piper Sandler increased their price objective on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $246.83.

ResMed Stock Down 0.6 %

NYSE:RMD opened at $219.77 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 stock’s fifty day moving average is $234.91 and its two-hundred day moving average is $239.06. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The stock has a market capitalization of $32.28 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping 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%. Research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

Insider Activity

In other news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the sale, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,940 shares of company stock worth $9,164,385. Corporate 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.