Mirae Asset Global Investments Co. Ltd. Has $10.08 Million Position in ResMed Inc. (NYSE:RMD)

Posted by Defense World Staff on May 21st, 2023

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of ResMed Inc. (NYSE:RMD – Get Rating) by 55.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 48,407 shares of the medical equipment provider’s stock after buying an additional 17,256 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in ResMed were worth $10,075,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Manchester Capital Management LLC raised its position in shares of ResMed by 30,350.0% during the fourth quarter. Manchester Capital Management LLC now owns 2,436 shares of the medical equipment provider’s stock valued at $507,000 after buying an additional 2,428 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in ResMed by 490.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 307 shares of the medical equipment provider’s stock valued at $64,000 after acquiring an additional 255 shares during the period. First Trust Advisors LP increased its stake in ResMed by 100.9% in the fourth quarter. First Trust Advisors LP now owns 73,184 shares of the medical equipment provider’s stock valued at $15,232,000 after acquiring an additional 36,753 shares during the period. Achmea Investment Management B.V. increased its stake in ResMed by 1.4% in the fourth quarter. Achmea Investment Management B.V. now owns 164,300 shares of the medical equipment provider’s stock valued at $32,041,000 after acquiring an additional 2,210 shares during the period. Finally, Huntington National Bank increased its stake in ResMed by 197.2% in the fourth quarter. Huntington National Bank now owns 1,358 shares of the medical equipment provider’s stock valued at $283,000 after acquiring an additional 901 shares during the period. Institutional investors and hedge funds own 64.73% of the company’s stock.

Insider Transactions at ResMed

In other news, COO Robert Andrew Douglas sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $206.14, for a total transaction of $309,210.00. Following the transaction, the chief operating officer now directly owns 258,026 shares in the company, valued at $53,189,479.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Robert Andrew Douglas sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $206.14, for a total transaction of $309,210.00. Following the transaction, the chief operating officer now directly owns 258,026 shares in the company, valued at $53,189,479.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 5,675 shares of the stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $224.23, for a total transaction of $1,272,505.25. Following the completion of the transaction, the chief executive officer now owns 436,900 shares in the company, valued at $97,966,087. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,951 shares of company stock worth $7,143,067. Corporate insiders own 1.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RMD. StockNews.com began coverage on shares of ResMed in a research note on Thursday. They issued a “buy” rating on the stock. Mizuho began coverage on shares of ResMed in a research note on Thursday, April 13th. They issued a “buy” rating and a $255.00 target price on the stock. William Blair reissued an “outperform” rating on shares of ResMed in a research note on Tuesday, January 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of ResMed from $245.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 27th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average target price of $259.00.

ResMed Price Performance

Shares of ResMed stock opened at $224.51 on Friday. The company has a current ratio of 3.07, a quick ratio of 1.74 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $32.99 billion, a price-to-earnings ratio of 38.25, a P/E/G ratio of 3.36 and a beta of 0.48. ResMed Inc. has a 1-year low of $192.85 and a 1-year high of $247.65. The firm’s 50-day moving average price is $222.83 and its two-hundred day moving average price is $219.97.

ResMed (NYSE:RMD – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The medical equipment provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.10. ResMed had a net margin of 21.49% and a return on equity of 25.82%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the firm earned $1.32 earnings per share. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. On average, equities analysts predict that ResMed Inc. will post 6.48 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, May 11th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.78%. ResMed’s payout ratio is 29.98%.

ResMed Profile

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ResMed, Inc engages in providing digital health and cloud-connected medical devices. Its digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, chronic obstructive pulmonary disease, or COPD, and other chronic diseases. The firm operates through the Sleep and Respiratory Care and Software as a Service segments.