ResMed Inc. (NYSE:RMD) Shares Purchased by Greenleaf Trust

Greenleaf Trust lifted its holdings in ResMed Inc. (NYSE:RMD) by 69.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,976 shares of the medical equipment provider’s stock after purchasing an additional 1,223 shares during the period. Greenleaf Trust’s holdings in ResMed were worth $512,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. Morgan Stanley grew its holdings 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. LGT Capital Partners LTD. acquired a new position in ResMed during the 4th quarter worth approximately $117,621,000. abrdn plc grew its holdings 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. Hsbc Holdings PLC grew its holdings in ResMed by 109.9% during the 3rd quarter. Hsbc Holdings PLC now owns 490,214 shares of the medical equipment provider’s stock worth $72,785,000 after acquiring an additional 256,624 shares in the last quarter. Finally, UBS Group AG grew its holdings in ResMed by 109.3% during the 3rd quarter. UBS Group AG now owns 457,717 shares of the medical equipment provider’s stock worth $67,683,000 after acquiring an additional 239,001 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Up 0.8 %

Shares of NYSE:RMD opened at $180.35 on Tuesday. The stock has a market cap of $26.53 billion, a P/E ratio of 29.81, a P/E/G ratio of 2.19 and a beta of 0.67. The firm has a fifty day moving average price of $186.14 and a 200 day moving average price of $171.04. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $243.52.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the business earned $1.66 EPS. ResMed’s quarterly revenue was up 12.5% compared to the same quarter last year. Sell-side analysts predict that ResMed Inc. will post 7.47 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Wednesday, February 7th. ResMed’s dividend payout ratio (DPR) is presently 31.74%.

Analyst Upgrades and Downgrades

Several research firms have commented on RMD. Royal Bank of Canada boosted their price target on shares of ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a report on Thursday, January 25th. Mizuho restated a “buy” rating and set a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. KeyCorp started coverage on shares of ResMed in a research report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price objective for the company. Needham & Company LLC boosted their price objective on shares of ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, UBS Group boosted their price objective on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $199.20.

Insider Transactions at ResMed

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