International Assets Investment Management LLC Has $3.82 Million Stake in ResMed Inc. (NYSE:RMD)

International Assets Investment Management LLC raised its stake in ResMed Inc. (NYSE:RMD) by 11,960.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,191 shares of the medical equipment provider’s stock after buying an additional 22,007 shares during the quarter. International Assets Investment Management LLC’s holdings in ResMed were worth $3,817,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in ResMed by 3.3% in the first quarter. Geode Capital Management LLC now owns 3,231,885 shares of the medical equipment provider’s stock valued at $706,314,000 after buying an additional 103,438 shares during the period. Morgan Stanley lifted its stake in ResMed by 102.4% in the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock valued at $344,481,000 after buying an additional 1,178,547 shares during the period. Norges Bank acquired a new position in ResMed in the fourth quarter valued at about $244,477,000. abrdn plc lifted its stake in ResMed by 79.2% in the third quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock valued at $133,303,000 after buying an additional 398,302 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in ResMed by 12.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 849,576 shares of the medical equipment provider’s stock valued at $176,822,000 after buying an additional 92,261 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Down 0.1 %

NYSE:RMD opened at $184.85 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. The company has a market cap of $27.19 billion, a PE ratio of 30.55, a PEG ratio of 2.30 and a beta of 0.67. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $243.52. The stock has a 50-day simple moving average of $186.67 and a 200 day simple moving average of $170.14.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. ResMed’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $1.66 earnings per share. On average, sell-side analysts expect that ResMed Inc. will post 7.45 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.04%. ResMed’s payout ratio is presently 31.74%.

Analysts Set New Price Targets

Several equities analysts have weighed in on RMD shares. UBS Group increased their target price on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Mizuho reaffirmed a “buy” rating and set a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. KeyCorp assumed coverage on ResMed in a research report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price target on the stock. Royal Bank of Canada raised their price target on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 25th. Finally, Oppenheimer raised their price target on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.20.

Insider Buying and Selling

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the firm’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 completion of the transaction, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the firm’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 completion of the transaction, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. 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. 1.21% of the stock is owned by corporate insiders.

ResMed 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.