DnB Asset Management AS Has $6.11 Million Holdings in ResMed Inc. (NYSE:RMD)

DnB Asset Management AS raised its stake in shares of ResMed Inc. (NYSE:RMD) by 6.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 26,702 shares of the medical equipment provider’s stock after purchasing an additional 1,729 shares during the period. DnB Asset Management AS’s holdings in ResMed were worth $6,106,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its position in shares of ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares during the last quarter. OFI Invest Asset Management bought a new position in ResMed during the 4th quarter valued at $39,000. BankPlus Trust Department purchased a new position in ResMed during the 4th quarter worth $44,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed in the 4th quarter worth $54,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of ResMed in the fourth quarter valued at about $67,000. 54.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on RMD. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. Piper Sandler increased their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Finally, Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $249.73.

ResMed Price Performance

NYSE RMD opened at $219.85 on Monday. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company has a market cap of $32.29 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The firm’s 50-day simple moving average is $233.70 and its two-hundred day simple moving average is $238.02.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating 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%. Research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kaushik Ghoshal sold 9,745 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 9,725 shares in the company, valued at $2,327,289.75. This trade represents a 50.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is owned by company insiders.

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.