Mediolanum International Funds Ltd Grows Holdings in ResMed Inc. (NYSE:RMD)

Mediolanum International Funds Ltd increased its stake in shares of ResMed Inc. (NYSE:RMD) by 178.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 31,012 shares of the medical equipment provider’s stock after buying an additional 19,893 shares during the period. Mediolanum International Funds Ltd’s holdings in ResMed were worth $7,100,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RMD. Creative Planning grew its stake in shares of ResMed by 4.7% in the second quarter. Creative Planning now owns 24,282 shares of the medical equipment provider’s stock valued at $4,648,000 after buying an additional 1,082 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in ResMed by 30.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,133 shares of the medical equipment provider’s stock valued at $982,000 after acquiring an additional 1,208 shares in the last quarter. Quarry LP increased its stake in ResMed by 271.9% during the second quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 242 shares during the period. Cetera Investment Advisers lifted its position in shares of ResMed by 26.8% during the second quarter. Cetera Investment Advisers now owns 9,721 shares of the medical equipment provider’s stock worth $1,861,000 after purchasing an additional 2,053 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of ResMed in the second quarter valued at approximately $1,162,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In related news, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the transaction, the insider now owns 21,718 shares in the company, valued at $5,279,428.62. The trade was a 22.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Witte Jan De sold 796 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the sale, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,030 shares of company stock worth $2,702,687. 0.71% of the stock is owned by insiders.

ResMed Trading Down 8.1 %

Shares of ResMed stock opened at $236.66 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $240.32 and a 200-day simple moving average of $235.99. The stock has a market cap of $34.74 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.83 and a beta of 0.70. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $263.05.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 23.15% and a return on equity of 25.53%. On average, equities analysts forecast that ResMed Inc. will post 9.35 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 28.08%.

Analysts Set New Price Targets

A number of research firms have issued reports on RMD. Piper Sandler increased their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday. KeyCorp lifted their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Robert W. Baird upped their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and an average price target of $244.73.

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.