Mirae Asset Global Investments Co. Ltd. Purchases 3,576 Shares of ResMed Inc. (NYSE:RMD)

Mirae Asset Global Investments Co. Ltd. grew its position in ResMed Inc. (NYSE:RMD) by 38.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,830 shares of the medical equipment provider’s stock after buying an additional 3,576 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in ResMed were worth $2,989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of RMD. True Wealth Design LLC raised its stake in shares of ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in ResMed in the 3rd quarter valued at $34,000. Rosenberg Matthew Hamilton acquired a new position in shares of ResMed in the 4th quarter valued at $54,000. Capital Performance Advisors LLP bought a new position in shares of ResMed during the 3rd quarter worth about $60,000. Finally, Venturi Wealth Management LLC boosted its position in shares of ResMed by 55.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock valued at $83,000 after acquiring an additional 122 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analysts Set New Price Targets

RMD has been the subject of several recent research reports. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada raised their target price on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Piper Sandler boosted their target price on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the transaction, the director now owns 81,218 shares in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. The trade was a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,094 shares of company stock worth $2,704,941 over the last three months. 0.71% of the stock is currently owned by company insiders.

ResMed Stock Performance

ResMed stock opened at $236.84 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 stock has a market capitalization of $34.78 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 1.57 and a beta of 0.70. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $263.05. The stock has a 50-day simple moving average of $239.18 and a 200 day simple moving average of $237.59.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, research analysts anticipate that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

ResMed Company 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.