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

Principal Financial Group Inc. increased its position in shares of ResMed Inc. (NYSE:RMD) by 2.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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.’s holdings in ResMed were worth $45,596,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in ResMed by 208.2% during the 2nd quarter. Raymond James & Associates now owns 20,180 shares of the medical equipment provider’s stock worth $3,863,000 after purchasing an additional 13,633 shares during the period. State of Michigan Retirement System raised its stake in ResMed by 0.7% during the 2nd quarter. State of Michigan Retirement System now owns 42,011 shares of the medical equipment provider’s stock valued at $8,042,000 after acquiring an additional 300 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of ResMed in the 2nd quarter valued at approximately $591,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of ResMed by 12.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 7,852 shares of the medical equipment provider’s stock valued at $1,503,000 after purchasing an additional 871 shares during the period. Finally, Financial Connections Group Inc. purchased a new stake in shares of ResMed during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on RMD shares. Robert W. Baird boosted their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Royal Bank of Canada increased their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. KeyCorp raised their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Finally, Baird R W raised ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $227.91.

ResMed Trading Up 2.5 %

Shares of RMD opened at $237.27 on Monday. ResMed Inc. has a twelve month low of $164.12 and a twelve month high of $260.49. The firm has a market capitalization of $34.83 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 1.73 and a beta of 0.68. 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 stock’s fifty day simple moving average is $242.72 and its 200 day simple moving average is $228.69.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $1.64 EPS. On average, equities research analysts forecast that ResMed Inc. will post 9.34 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. ResMed’s dividend payout ratio (DPR) is 28.08%.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the transaction, the director now owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the sale, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at $107,645,432.79. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,725 shares of company stock worth $11,253,448 over the last quarter. 0.71% of the stock is owned by corporate 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.