Principal Financial Group Inc. Buys 5,284 Shares of ResMed Inc. (NYSE:RMD)

Principal Financial Group Inc. grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 2.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 186,776 shares of the medical equipment provider’s stock after buying an additional 5,284 shares during the quarter. Principal Financial Group Inc. owned 0.13% of ResMed worth $45,596,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in ResMed in the second quarter worth approximately $32,000. Versant Capital Management Inc lifted its holdings in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 120 shares during the period. Financial Connections Group Inc. purchased a new stake in ResMed during the second quarter worth $37,000. Blue Trust Inc. lifted its holdings in ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 137 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in ResMed during the second quarter worth $44,000. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

NYSE:RMD opened at $252.38 on Monday. ResMed Inc. has a 52 week low of $140.81 and a 52 week high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $37.05 billion, a PE ratio of 33.43, a price-to-earnings-growth ratio of 1.85 and a beta of 0.69. The stock’s 50-day moving average price is $243.36 and its 200-day moving average price is $222.35.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm earned $1.64 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities analysts expect that ResMed Inc. will post 9.22 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio is presently 28.08%.

Insider Activity at ResMed

In related news, General Counsel Michael J. Rider sold 882 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the transaction, the general counsel now directly owns 10,512 shares of the company’s stock, valued at approximately $2,428,272. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, General Counsel Michael J. Rider sold 882 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the transaction, the general counsel now directly owns 10,512 shares of the company’s stock, valued at approximately $2,428,272. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now directly owns 21,788 shares in the company, valued at $5,502,777.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,260 shares of company stock valued at $14,887,967. 0.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RMD. Royal Bank of Canada increased their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Wolfe Research reiterated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. KeyCorp increased their price objective on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Baird R W upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.70.

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.