Robeco Institutional Asset Management B.V. Increases Stake in ResMed Inc. (NYSE:RMD)

Robeco Institutional Asset Management B.V. lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 22.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,459 shares of the medical equipment provider’s stock after buying an additional 13,134 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in ResMed were worth $16,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake 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 worth $939,114,000 after acquiring an additional 380,383 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake 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 worth $69,281,000 after acquiring an additional 249,454 shares in the last quarter. Nordea Investment Management AB boosted its stake 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 worth $103,214,000 after acquiring an additional 215,561 shares in the last quarter. State Street Corp boosted its stake in ResMed by 1.9% during the third 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. Finally, Tidal Investments LLC boosted its stake in ResMed by 738.4% during the third quarter. Tidal Investments LLC now owns 104,938 shares of the medical equipment provider’s stock worth $25,617,000 after acquiring an additional 92,422 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 8.1 %

Shares of RMD stock opened at $236.66 on Friday. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05. The stock has a market cap of $34.74 billion, a P/E ratio of 31.35, a P/E/G ratio of 1.83 and a beta of 0.70. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The company has a 50 day simple moving average of $240.32 and a two-hundred day simple moving average of $235.99.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 23.15% and a return on equity of 25.53%. On average, research analysts expect that ResMed Inc. will post 9.35 earnings per share for the current 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 issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. ResMed’s dividend payout ratio is currently 28.08%.

Wall Street Analyst Weigh In

RMD has been the topic of several analyst reports. Royal Bank of Canada upped their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday. JPMorgan Chase & Co. upped their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday. Robert W. Baird upped their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Piper Sandler upped their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given 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 $244.73.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 796 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total transaction of $497,480.00. Following the completion of the sale, the director now directly owns 83,204 shares of the company’s stock, valued at approximately $20,696,162.96. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,030 shares of company stock valued at $2,702,687. Insiders own 0.71% of the company’s stock.

ResMed Company 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.