ResMed Inc. (NYSE:RMD) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its position in ResMed Inc. (NYSE:RMD) by 13.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,231 shares of the medical equipment provider’s stock after acquiring an additional 5,517 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in ResMed were worth $7,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC raised its position in ResMed by 29.2% in the fourth quarter. Synergy Asset Management LLC now owns 69,383 shares of the medical equipment provider’s stock valued at $11,935,000 after purchasing an additional 15,663 shares during the period. Inspire Advisors LLC raised its position in ResMed by 20.2% in the third quarter. Inspire Advisors LLC now owns 1,553 shares of the medical equipment provider’s stock valued at $230,000 after purchasing an additional 261 shares during the period. Nordea Investment Management AB raised its position in ResMed by 3.4% in the fourth quarter. Nordea Investment Management AB now owns 9,753 shares of the medical equipment provider’s stock valued at $1,682,000 after purchasing an additional 324 shares during the period. Miracle Mile Advisors LLC purchased a new position in ResMed in the fourth quarter valued at about $275,000. Finally, Mackenzie Financial Corp raised its position in ResMed by 12.6% in the third quarter. Mackenzie Financial Corp now owns 151,505 shares of the medical equipment provider’s stock valued at $21,906,000 after purchasing an additional 16,966 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $185.86 on Friday. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average of $186.89 and a two-hundred day moving average of $169.49. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $243.52. The company has a market cap of $27.34 billion, a P/E ratio of 30.72, a PEG ratio of 2.30 and a beta of 0.67.

ResMed (NYSE:RMD) last issued its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. ResMed’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, analysts anticipate that ResMed Inc. will post 7.45 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were given a dividend of $0.48 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.92 annualized dividend and a dividend yield of 1.03%. ResMed’s dividend payout ratio is presently 31.74%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RMD shares. Needham & Company LLC raised their price objective on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, April 1st. UBS Group raised their price objective on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Oppenheimer lifted their target price on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. KeyCorp began coverage on ResMed in a research report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 target price on the stock. Finally, Mizuho reaffirmed a “buy” rating and set a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.20.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,216 shares of company stock worth $2,046,617. Company insiders own 1.21% 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. 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.