ResMed Inc. (NYSE:RMD) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in ResMed Inc. (NYSE:RMD) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,173,462 shares of the medical equipment provider’s stock after purchasing an additional 160,590 shares during the quarter. Vanguard Group Inc. owned approximately 12.37% of ResMed worth $4,156,089,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. First Horizon Advisors Inc. raised its stake in ResMed by 285.1% during the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after buying an additional 439 shares in the last quarter. Peak Financial Advisors LLC bought a new stake in shares of ResMed in the 4th quarter valued at approximately $2,972,000. Principal Financial Group Inc. raised its position in shares of ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after acquiring an additional 5,284 shares in the last quarter. Spire Wealth Management lifted its stake in ResMed by 11.3% during the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in ResMed by 2.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock worth $14,105,000 after purchasing an additional 1,629 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at $104,394,182.40. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 9,745 shares of the firm’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 transaction, 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 disclosure for this sale can be found here. Insiders sold 38,940 shares of company stock worth $9,164,385 over the last ninety days. 0.71% of the stock is currently owned by insiders.

ResMed Price Performance

NYSE RMD opened at $222.95 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The firm has a market capitalization of $32.74 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company has a 50 day simple moving average of $234.76 and a 200-day simple moving average of $238.83. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings data 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%. Equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s payout ratio is presently 25.03%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RMD. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday. Piper Sandler boosted their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. The Goldman Sachs Group started coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, Stifel Nicolaus cut their price target on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $246.83.

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.