ResMed Inc. (NYSE:RMD) Shares Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of ResMed Inc. (NYSE:RMD) by 139.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 46,584 shares of the medical equipment provider’s stock after purchasing an additional 27,132 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in ResMed were worth $10,653,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RMD. Howard Capital Management Inc. lifted its stake in shares of ResMed by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 45 shares during the period. Ascent Group LLC raised its holdings in ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after acquiring an additional 48 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after acquiring an additional 51 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of ResMed by 2.6% during the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after purchasing an additional 52 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in shares of ResMed by 8.1% during the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock worth $208,000 after purchasing an additional 68 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Piper Sandler upped their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Saturday. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, KeyCorp lifted their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $243.82.

ResMed Trading Down 2.1 %

NYSE:RMD opened at $220.07 on Wednesday. The business’s 50-day moving average is $235.76 and its two-hundred day moving average is $239.49. The firm has a market capitalization of $32.32 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD) last announced its 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 return on equity of 26.17% and a net margin of 25.34%. Research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. 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 dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 38,940 shares of company stock valued at $9,164,385. Corporate insiders own 0.71% of the company’s stock.

About ResMed

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.