River Global Investors LLP Invests $9.58 Million in ResMed Inc. (NYSE:RMD)

River Global Investors LLP acquired a new stake in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 41,814 shares of the medical equipment provider’s stock, valued at approximately $9,575,000. ResMed accounts for approximately 1.9% of River Global Investors LLP’s investment portfolio, making the stock its 14th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its holdings in shares of ResMed by 285.1% in the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after buying an additional 439 shares in the last quarter. Peak Financial Advisors LLC acquired a new stake in ResMed in the fourth quarter valued at approximately $2,972,000. Principal Financial Group Inc. grew its holdings in ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after purchasing an additional 5,284 shares during the last quarter. Spire Wealth Management increased its position in shares of ResMed by 11.3% during the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of ResMed by 2.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock valued at $14,105,000 after purchasing an additional 1,629 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Activity at ResMed

In related news, insider Kaushik Ghoshal sold 9,113 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the transaction, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. This represents a 48.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,186 shares of company stock worth $4,996,646. 0.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on RMD shares. JPMorgan Chase & Co. boosted their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. KeyCorp boosted their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note 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. The Goldman Sachs Group initiated coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating for the company. Finally, StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a report on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus price target of $243.82.

ResMed Stock Performance

NYSE RMD opened at $232.40 on Friday. The firm has a market capitalization of $34.13 billion, a P/E ratio of 27.44, a PEG ratio of 1.53 and a beta of 0.74. The stock has a 50-day simple moving average of $236.70 and a two-hundred day simple moving average of $239.81. 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.

ResMed (NYSE:RMD) last announced its quarterly earnings results 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%. On average, equities analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is currently 25.03%.

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.