Aviso Financial Inc. Has $42.21 Million Stake in ResMed Inc. (NYSE:RMD)

Aviso Financial Inc. lifted its stake in ResMed Inc. (NYSE:RMD) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 184,588 shares of the medical equipment provider’s stock after purchasing an additional 5,310 shares during the period. ResMed accounts for 2.1% of Aviso Financial Inc.’s portfolio, making the stock its 17th largest position. Aviso Financial Inc.’s holdings in ResMed were worth $42,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of RMD. Geode Capital Management LLC increased its holdings in shares of ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after purchasing an additional 380,383 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of ResMed by 60.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after purchasing an additional 250,746 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of ResMed by 726.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after purchasing an additional 249,454 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of ResMed in the fourth quarter valued at approximately $50,364,000. Finally, Nordea Investment Management AB increased its holdings in shares of ResMed by 92.7% in the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after purchasing an additional 215,561 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Friday, March 7th. JPMorgan Chase & Co. upped their target price on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. Piper Sandler upped their price objective on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, KeyCorp raised their target price on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.82.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction 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 sale, the director now owns 77,218 shares of the company’s stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 9,745 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the sale, the insider now directly owns 9,725 shares in the company, valued at approximately $2,327,289.75. This represents a 50.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock valued at $9,164,385 over the last 90 days. 0.71% of the stock is owned by corporate insiders.

ResMed Stock Performance

Shares of RMD opened at $219.31 on Friday. 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 twelve month low of $172.19 and a twelve month high of $263.05. The firm’s 50 day moving average price is $236.44 and its two-hundred day moving average price is $239.84. The firm has a market cap of $32.21 billion, a P/E ratio of 25.89, a PEG ratio of 1.53 and a beta of 0.74.

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

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

ResMed 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.