ResMed Inc. (NYSE:RMD) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in ResMed Inc. (NYSE:RMD) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 186,776 shares of the medical equipment provider’s stock after buying an additional 5,284 shares during the quarter. Principal Financial Group Inc. owned 0.13% of ResMed worth $45,596,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Marshall Wace LLP acquired a new position in ResMed in the second quarter valued at approximately $77,285,000. Geode Capital Management LLC boosted its holdings in ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after buying an additional 380,383 shares in the last quarter. Greenvale Capital LLP grew its position in ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after buying an additional 275,000 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in ResMed by 726.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after buying an additional 249,454 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after acquiring an additional 241,195 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 2.5 %

Shares of NYSE RMD opened at $237.27 on Monday. ResMed Inc. has a 1 year low of $164.12 and a 1 year high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The company has a market capitalization of $34.83 billion, a P/E ratio of 31.43, a P/E/G ratio of 1.73 and a beta of 0.68. The company has a 50 day simple moving average of $242.72 and a 200-day simple moving average of $228.69.

ResMed (NYSE:RMD) last issued its quarterly earnings data 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. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. ResMed’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS. On average, equities research analysts predict that ResMed Inc. will post 9.34 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s payout ratio is presently 28.08%.

Insiders Place Their Bets

In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $233.47, for a total transaction of $233,470.00. Following the completion of the transaction, the chief financial officer now owns 95,812 shares in the company, valued at $22,369,227.64. The trade was a 1.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,725 shares of company stock worth $11,253,448 over the last three months. Company insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RMD. Robert W. Baird upped their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Wolfe Research reissued an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Stifel Nicolaus began coverage on shares of ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price objective on the stock. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada boosted their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $227.91.

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.