ResMed Inc. (NYSE:RMD) Holdings Lifted by Korea Investment CORP

Korea Investment CORP increased its position in shares of ResMed Inc. (NYSE:RMD) by 55.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 127,626 shares of the medical equipment provider’s stock after acquiring an additional 45,600 shares during the quarter. Korea Investment CORP’s holdings in ResMed were worth $29,187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of ResMed during the 4th quarter valued at about $732,000. UNIVEST FINANCIAL Corp lifted its stake in ResMed by 10.2% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 15,838 shares of the medical equipment provider’s stock valued at $3,622,000 after purchasing an additional 1,470 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in ResMed by 26.4% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 111,451 shares of the medical equipment provider’s stock worth $25,488,000 after buying an additional 23,250 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in ResMed by 5.0% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,903 shares of the medical equipment provider’s stock worth $664,000 after buying an additional 138 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of ResMed in the fourth quarter valued at $347,000. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Down 1.2 %

RMD stock opened at $219.85 on Friday. The company has a 50 day moving average of $233.70 and a two-hundred day moving average of $238.23. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05. The company has a market cap of $32.29 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.53 and a beta of 0.74.

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%. On average, equities analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on RMD shares. Stifel Nicolaus reduced their price objective on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Tuesday. Piper Sandler raised their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, KeyCorp lifted their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” 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, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $249.73.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s 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 directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by corporate insiders.

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.