ResMed Inc. (NYSE:RMD) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. grew its position in ResMed Inc. (NYSE:RMD) by 18.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 32,580 shares of the medical equipment provider’s stock after acquiring an additional 5,024 shares during the quarter. Vontobel Holding Ltd.’s holdings in ResMed were worth $5,604,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its position in ResMed by 3.3% during the 1st quarter. Geode Capital Management LLC now owns 3,231,885 shares of the medical equipment provider’s stock worth $706,314,000 after acquiring an additional 103,438 shares in the last quarter. Morgan Stanley lifted its position in ResMed by 102.4% during the 3rd quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock worth $344,481,000 after acquiring an additional 1,178,547 shares in the last quarter. Norges Bank acquired a new position in ResMed during the 4th quarter worth approximately $244,477,000. abrdn plc lifted its position in ResMed by 79.2% during the 3rd quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock worth $133,303,000 after acquiring an additional 398,302 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in ResMed by 12.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 849,576 shares of the medical equipment provider’s stock worth $176,822,000 after acquiring an additional 92,261 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Performance

NYSE:RMD opened at $173.86 on Thursday. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $243.52. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $25.57 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67. The firm has a 50-day moving average price of $186.42 and a 200 day moving average price of $170.17.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.07. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $1.66 earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. Research analysts anticipate that ResMed Inc. will post 7.46 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 14th. Stockholders of record on Thursday, February 8th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Wednesday, February 7th. ResMed’s payout ratio is 31.74%.

Analysts Set New Price Targets

Several research firms recently commented on RMD. JPMorgan Chase & Co. boosted their price target on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Needham & Company LLC lifted their price objective on ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, April 1st. KeyCorp started coverage on ResMed in a report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price objective on the stock. Mizuho restated a “buy” rating and set a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. Finally, UBS Group upped their price target on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and an average price target of $199.20.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,216 shares of company stock valued at $2,046,617. Corporate insiders own 1.21% of the company’s stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.