ResMed Inc. (NYSE:RMD) Shares Acquired by Natixis Advisors L.P.

Natixis Advisors L.P. increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 12.4% in the fourth quarter, Holdings Channel reports. The firm owned 35,447 shares of the medical equipment provider’s stock after buying an additional 3,923 shares during the period. Natixis Advisors L.P.’s holdings in ResMed were worth $6,097,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Morgan Stanley raised its stake in shares of ResMed by 102.4% in the 3rd quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock valued at $344,481,000 after acquiring an additional 1,178,547 shares during the period. abrdn plc raised its position 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 purchasing an additional 398,302 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in ResMed by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 817,176 shares of the medical equipment provider’s stock worth $120,836,000 after purchasing an additional 2,882 shares in the last quarter. LGT Capital Partners LTD. purchased a new position in shares of ResMed during the fourth quarter worth $117,621,000. Finally, Hsbc Holdings PLC grew its stake in shares of ResMed by 109.9% in the third quarter. Hsbc Holdings PLC now owns 490,214 shares of the medical equipment provider’s stock valued at $72,785,000 after buying an additional 256,624 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total value of $3,178,869.50. Following the completion of the transaction, the chief executive officer now owns 440,752 shares in the company, valued at $95,422,808. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total value of $3,178,869.50. Following the completion of the sale, the chief executive officer now owns 440,752 shares in the company, valued at $95,422,808. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Karen Drexler sold 425 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the completion of the sale, the director now directly owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The disclosure for this sale can be found here. Insiders have sold 26,324 shares of company stock valued at $5,316,828 in the last ninety days. Insiders own 1.21% of the company’s stock.

Analysts Set New Price Targets

RMD has been the topic of several research reports. Needham & Company LLC increased their target price on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Mizuho reissued a “buy” rating and set a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. UBS Group lifted their price objective on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. KeyCorp increased their target price on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Royal Bank of Canada boosted their price target on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $202.80.

ResMed Price Performance

ResMed stock opened at $216.95 on Friday. The stock has a market cap of $31.87 billion, a P/E ratio of 33.32, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $193.54 and a 200-day simple moving average of $176.56. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $237.26.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.22. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $1.68 EPS. Equities analysts expect that ResMed Inc. will post 7.59 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s payout ratio is 29.49%.

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.