ResMed Inc. (NYSE:RMD) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its stake in ResMed Inc. (NYSE:RMD) by 5.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 86,895 shares of the medical equipment provider’s stock after selling 4,635 shares during the period. Prudential Financial Inc.’s holdings in ResMed were worth $19,872,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RMD. Vanguard Group Inc. boosted its holdings in shares of ResMed by 0.9% in the 4th 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. State Street Corp increased its holdings in shares of ResMed by 1.9% during the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after buying an additional 116,918 shares during the last quarter. Geode Capital Management LLC raised its position in shares of ResMed by 10.9% in 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 buying an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in ResMed by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock valued at $218,861,000 after acquiring an additional 32,973 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in ResMed by 0.3% during 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 acquiring an additional 2,406 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RMD shares. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. KeyCorp lifted their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Piper Sandler increased their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $246.83.

ResMed Trading Up 0.3 %

NYSE RMD opened at $221.90 on Thursday. The company’s fifty day moving average price is $234.39 and its two-hundred day moving average price is $238.55. The company has a market capitalization of $32.59 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. 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 (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 9,745 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the transaction, the insider now owns 9,725 shares of the company’s stock, valued at $2,327,289.75. This represents a 50.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,940 shares of company stock worth $9,164,385 over the last 90 days. Insiders own 0.71% 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. 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.