Czech National Bank Raises Stock Position in ResMed Inc. (NYSE:RMD)

Czech National Bank increased its position in shares of ResMed Inc. (NYSE:RMD) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,829 shares of the medical equipment provider’s stock after acquiring an additional 1,898 shares during the quarter. Czech National Bank’s holdings in ResMed were worth $7,279,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in shares of ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after purchasing an additional 5,284 shares in the last quarter. Retireful LLC acquired a new position in ResMed during the 3rd quarter valued at about $742,000. Asset Management One Co. Ltd. raised its stake in ResMed by 5.1% in the third quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock valued at $14,369,000 after buying an additional 2,878 shares during the last quarter. Empowered Funds LLC boosted its holdings in ResMed by 284.3% in the third quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock worth $2,004,000 after acquiring an additional 6,072 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of ResMed by 35.7% during the third quarter. Wellington Management Group LLP now owns 59,926 shares of the medical equipment provider’s stock worth $14,629,000 after acquiring an additional 15,772 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 0.7 %

Shares of RMD stock opened at $228.61 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed Inc. has a twelve month low of $168.29 and a twelve month high of $260.49. The stock has a 50 day moving average of $239.24 and a 200 day moving average of $232.06. The stock has a market cap of $33.56 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.73 and a beta of 0.70.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the business posted $1.64 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that ResMed Inc. will post 9.34 EPS for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Analyst Ratings Changes

RMD has been the subject of a number of recent analyst reports. Stifel Nicolaus started coverage on shares of ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 target price for the company. Piper Sandler began coverage on shares of ResMed in a report on Friday, January 10th. They set a “neutral” rating and a $252.00 price objective on the stock. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. Finally, StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ResMed presently has a consensus rating of “Hold” and an average target price of $233.09.

Insider Buying and Selling

In related news, insider Justin Leong sold 6,160 shares of ResMed 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 sale, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the transaction, the director now directly owns 81,218 shares of the company’s stock, valued at $19,951,201.70. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,099 shares of company stock valued at $2,719,385. 0.71% of the stock is owned by company insiders.

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.