ResMed Inc. (NYSE:RMD) Shares Acquired by Czech National Bank

Czech National Bank lifted its holdings in ResMed Inc. (NYSE:RMD) by 6.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 31,829 shares of the medical equipment provider’s stock after purchasing an additional 1,898 shares during the period. Czech National Bank’s holdings in ResMed were worth $7,279,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Private Advisor Group LLC boosted its stake in ResMed by 15.1% during the second quarter. Private Advisor Group LLC now owns 3,071 shares of the medical equipment provider’s stock worth $588,000 after buying an additional 402 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of ResMed by 471.6% during the 2nd quarter. Acadian Asset Management LLC now owns 3,681 shares of the medical equipment provider’s stock valued at $704,000 after acquiring an additional 3,037 shares during the last quarter. Quest Partners LLC grew its holdings in shares of ResMed by 44.1% in the second quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 100 shares during the period. American Century Companies Inc. increased its position in ResMed by 17.7% during the second quarter. American Century Companies Inc. now owns 30,874 shares of the medical equipment provider’s stock worth $5,910,000 after purchasing an additional 4,639 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in ResMed by 7.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 10,177 shares of the medical equipment provider’s stock worth $1,948,000 after purchasing an additional 674 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on RMD shares. Piper Sandler started coverage on shares of ResMed in a research note on Friday, January 10th. They issued a “neutral” rating and a $252.00 price target for the company. Royal Bank of Canada increased their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Wolfe Research restated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Stifel Nicolaus began coverage on ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price target for the company. Finally, Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $233.09.

ResMed Stock Down 0.7 %

Shares of RMD opened at $228.61 on Wednesday. The company’s 50-day simple moving average is $239.24 and its 200-day simple moving average is $232.06. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a 1 year low of $168.29 and a 1 year high of $260.49. The stock has a market capitalization of $33.56 billion, a PE ratio of 30.28, a P/E/G ratio of 1.73 and a beta of 0.70.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company posted $1.64 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. Analysts forecast that ResMed Inc. will post 9.34 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.93%. ResMed’s dividend payout ratio (DPR) is 28.08%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the sale, the director now directly owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the sale, the director now owns 6,723 shares in the company, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,099 shares of company stock valued at $2,719,385 in the last quarter. Corporate insiders own 0.71% of the company’s stock.

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.