ResMed Inc. sees multiple institutional investors boost holdings amid valuation debate

Principal Financial Group increased its stake in ResMed Inc. to 187,466 shares, representing about 0.13% of the company and valued at roughly $42 million. Other large holders such as State Street, Bank of New York Mellon, Geode Capital Management, Morgan Stanley and Northern Trust also raised their positions in the fourth quarter, together owning a significant portion of the medical‑equipment maker’s stock.

ResMed, headquartered in San Diego and originally founded in Australia, manufactures CPAP machines for obstructive sleep apnea and provides a SaaS platform for out‑of‑hospital care. The firm employs over 10,000 people and operates in more than 140 countries. In its latest fiscal year it reported revenue of $4.685 billion, a gross margin of 57.4% and net profit of $1.021 billion. The company’s market capitalisation stands near $28.9 billion, with a price‑to‑earnings ratio of 19.2. Its shares have fallen about 20.5% year‑to‑date.