APG Asset Management N.V. Boosts Stock Holdings in ResMed Inc. (NYSE:RMD)

APG Asset Management N.V. raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 189.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 124,755 shares of the medical equipment provider’s stock after purchasing an additional 81,643 shares during the period. APG Asset Management N.V.’s holdings in ResMed were worth $27,552,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Howard Capital Management Inc. lifted its stake in shares of ResMed by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock valued at $206,000 after purchasing an additional 45 shares during the period. SkyView Investment Advisors LLC lifted its stake in shares of ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after purchasing an additional 51 shares during the period. Wedmont Private Capital lifted its stake in shares of ResMed by 2.6% in the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after purchasing an additional 52 shares during the period. HighPoint Advisor Group LLC increased its holdings in ResMed by 2.6% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider’s stock worth $610,000 after acquiring an additional 64 shares in the last quarter. Finally, Brooklyn Investment Group increased its holdings in ResMed by 8.1% in the 4th quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock worth $208,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 5.9 %

RMD stock opened at $216.70 on Thursday. The company’s 50 day moving average price is $226.80 and its 200 day moving average price is $235.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The firm has a market capitalization of $31.83 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.98%. ResMed’s dividend payout ratio is currently 25.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RMD shares. Piper Sandler boosted their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Morgan Stanley began coverage on shares of ResMed in a report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 target price for the company. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.73.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $209.85, for a total value of $1,680,688.65. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $95,580,799.20. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,013 shares of company stock worth $11,298,816 over the last three months. 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.