Simplify Asset Management Inc. Purchases Shares of 30,141 ResMed Inc. (NYSE:RMD)

Simplify Asset Management Inc. acquired a new position in shares of ResMed Inc. (NYSE:RMD) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 30,141 shares of the medical equipment provider’s stock, valued at approximately $6,893,000. ResMed makes up 0.3% of Simplify Asset Management Inc.’s holdings, making the stock its 17th largest position.

A number of other institutional investors also recently modified their holdings of RMD. Geode Capital Management LLC increased its holdings in ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after purchasing an additional 380,383 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock worth $152,973,000 after purchasing an additional 250,746 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of 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. Proficio Capital Partners LLC acquired a new stake in shares of ResMed in the fourth quarter valued at $50,364,000. Finally, Nordea Investment Management AB raised its holdings in shares of ResMed by 92.7% in the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after buying an additional 215,561 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. KeyCorp raised their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Saturday, March 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $246.83.

Insider Activity at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,327,289.75. The trade was a 50.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $229.20, for a total value of $1,835,662.80. Following the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $104,394,182.40. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,940 shares of company stock worth $9,164,385 in the last quarter. Corporate insiders own 0.71% of the company’s stock.

ResMed Price Performance

Shares of RMD opened at $219.77 on Friday. The stock has a market cap of $32.28 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. The stock’s 50-day moving average price is $234.91 and its two-hundred day moving average price is $239.02. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, equities analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 25.03%.

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.