Strategic Global Advisors LLC Purchases 6,818 Shares of ResMed Inc. (NYSE:RMD)

Strategic Global Advisors LLC increased its position in ResMed Inc. (NYSE:RMD) by 52.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 19,837 shares of the medical equipment provider’s stock after buying an additional 6,818 shares during the period. Strategic Global Advisors LLC’s holdings in ResMed were worth $4,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of ResMed by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider’s stock valued at $4,156,089,000 after purchasing an additional 160,590 shares during the last quarter. Geode Capital Management LLC boosted its stake in ResMed by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider’s stock valued at $899,860,000 after purchasing an additional 85,270 shares during the period. Invesco Ltd. grew its holdings in ResMed by 32.2% in the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock valued at $531,706,000 after buying an additional 566,046 shares during the last quarter. Northern Trust Corp increased its position in ResMed by 20.6% in the 4th quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider’s stock worth $389,365,000 after buying an additional 290,664 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of ResMed by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock worth $218,861,000 after buying an additional 32,973 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total transaction of $455,420.00. Following the completion of the sale, the director now owns 75,218 shares of the company’s stock, valued at approximately $17,127,890.78. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total transaction of $1,948,029.07. Following the completion of the transaction, the chief executive officer now owns 455,503 shares of the company’s stock, valued at $110,791,994.69. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,949 shares of company stock valued at $11,335,320. 0.71% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on RMD shares. Mizuho set a $265.00 target price on shares of ResMed in a research note on Wednesday, April 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. Piper Sandler lowered their price target on ResMed from $260.00 to $248.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Finally, Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $258.83.

ResMed Trading Up 1.3%

RMD stock opened at $251.75 on Friday. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $225.34 and its 200-day moving average is $234.17. The firm has a market cap of $36.91 billion, a P/E ratio of 29.72, a P/E/G ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating the consensus estimate of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the firm earned $2.13 EPS. ResMed’s quarterly revenue was up 7.9% on a year-over-year basis. 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 announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be paid a $0.53 dividend. The ex-dividend date is Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.84%. ResMed’s dividend payout ratio is presently 23.79%.

ResMed 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.