ResMed Inc. (NYSE:RMD) Shares Purchased by Caitlin John LLC

Caitlin John LLC grew its position in shares of ResMed Inc. (NYSE:RMD) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,827 shares of the medical equipment provider’s stock after purchasing an additional 252 shares during the period. ResMed accounts for about 1.3% of Caitlin John LLC’s investment portfolio, making the stock its 18th largest position. Caitlin John LLC’s holdings in ResMed were worth $2,019,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of RMD. State Street Corp boosted its position 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 during the last quarter. Geode Capital Management LLC lifted its stake in shares of ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after purchasing an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of ResMed by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock worth $225,578,000 after purchasing an additional 13,985 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of ResMed by 0.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock valued at $181,237,000 after purchasing an additional 2,406 shares during the period. Finally, Nordea Investment Management AB increased its stake in ResMed by 92.7% in the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after purchasing an additional 215,561 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group began coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. Piper Sandler boosted their target price on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $244.73.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Witte Jan De sold 796 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,094 shares of company stock worth $2,704,941 in the last quarter. 0.71% of the stock is owned by corporate insiders.

ResMed Trading Up 0.7 %

Shares of RMD opened at $242.19 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. 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 $35.55 billion, a PE ratio of 28.59, a P/E/G ratio of 1.69 and a beta of 0.70. The stock’s 50-day moving average is $239.82 and its two-hundred day moving average is $237.15.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Equities analysts forecast that ResMed Inc. will post 9.41 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 25.03%.

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.