Canada Post Corp Registered Pension Plan Purchases 3,142 Shares of ResMed Inc. $RMD

Canada Post Corp Registered Pension Plan lifted its position in ResMed Inc. (NYSE:RMD) by 157.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,136 shares of the medical equipment provider’s stock after purchasing an additional 3,142 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in ResMed were worth $1,392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RMD. Norges Bank bought a new position in ResMed during the second quarter worth about $306,452,000. Vanguard Group Inc. boosted its stake in ResMed by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 18,746,925 shares of the medical equipment provider’s stock valued at $4,836,707,000 after buying an additional 253,223 shares in the last quarter. Ilex Capital Partners UK LLP bought a new stake in ResMed in the second quarter valued at $39,306,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in ResMed during the second quarter worth $34,443,000. Finally, Allianz Asset Management GmbH lifted its holdings in shares of ResMed by 44.8% during the third quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock valued at $97,837,000 after acquiring an additional 110,647 shares during the period. 54.98% of the stock is owned by institutional investors.

Insider Activity at ResMed

In related news, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total transaction of $524,025.00. Following the transaction, the director owned 4,261 shares of the company’s stock, valued at $1,086,555. This trade represents a 32.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $115,837,766.58. The trade was a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,633 shares of company stock worth $3,918,368 in the last ninety days. Company insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank Of Canada upped their price target on shares of ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Morgan Stanley set a $305.00 target price on shares of ResMed in a research note on Friday, October 31st. Piper Sandler increased their price target on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Finally, KeyCorp restated an “overweight” rating and issued a $302.00 price objective on shares of ResMed in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $299.27.

ResMed Stock Performance

Shares of ResMed stock opened at $271.86 on Friday. The firm has a fifty day moving average of $251.78 and a two-hundred day moving average of $263.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The stock has a market capitalization of $39.60 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 1.80 and a beta of 0.87. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.13. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The firm’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $2.43 EPS. As a group, equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. ResMed’s dividend payout ratio is 23.74%.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.