C WorldWide Group Holding A S Boosts Position in ResMed Inc. (NYSE:RMD)

C WorldWide Group Holding A S lifted its position in ResMed Inc. (NYSE:RMD) by 37.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 98,309 shares of the medical equipment provider’s stock after purchasing an additional 26,528 shares during the period. C WorldWide Group Holding A S’s holdings in ResMed were worth $16,911,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of RMD. Morgan Stanley lifted its stake in ResMed by 102.4% in the 3rd quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock worth $344,481,000 after purchasing an additional 1,178,547 shares in the last quarter. abrdn plc boosted its stake in ResMed by 79.2% during the third quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock valued at $133,303,000 after buying an additional 398,302 shares during the period. Charles Schwab Investment Management Inc. lifted its position in ResMed by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 817,176 shares of the medical equipment provider’s stock valued at $120,836,000 after purchasing an additional 2,882 shares during the last quarter. LGT Capital Partners LTD. purchased a new position in ResMed in the 4th quarter worth approximately $117,621,000. Finally, Hsbc Holdings PLC increased its holdings in shares of ResMed by 109.9% in the 3rd quarter. Hsbc Holdings PLC now owns 490,214 shares of the medical equipment provider’s stock worth $72,785,000 after buying an additional 256,624 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ResMed

In related news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the transaction, the general counsel now owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,216 shares of company stock valued at $2,046,617. 1.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on RMD shares. JPMorgan Chase & Co. upped their target price on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Oppenheimer cut their price objective on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday. Mizuho reissued a “buy” rating and set a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. Needham & Company LLC boosted their price objective on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday. Finally, KeyCorp increased their target price on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.80.

ResMed Trading Up 18.9 %

Shares of RMD stock traded up $34.64 during mid-day trading on Friday, reaching $218.06. The stock had a trading volume of 4,330,840 shares, compared to its average volume of 1,052,924. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average price is $187.07 and its two-hundred day moving average price is $171.97. The firm has a market capitalization of $32.07 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $243.52.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. ResMed had a return on equity of 24.92% and a net margin of 20.91%. ResMed’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.68 EPS. Equities analysts expect that ResMed Inc. will post 7.44 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s dividend payout ratio (DPR) is currently 29.49%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.