New Age Alpha Advisors LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 10,005 shares of the medical equipment provider's stock, valued at approximately $2,288,000.
Several other institutional investors have also added to or reduced their stakes in the company. Howard Capital Management Inc. lifted its holdings in shares of ResMed by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock worth $206,000 after buying an additional 45 shares in the last quarter. Ascent Group LLC boosted its holdings in ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider's stock valued at $714,000 after purchasing an additional 48 shares during the period. SkyView Investment Advisors LLC increased its holdings in shares of ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider's stock worth $637,000 after purchasing an additional 51 shares during the period. Wedmont Private Capital raised its position in shares of ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider's stock valued at $475,000 after buying an additional 52 shares in the last quarter. Finally, Brooklyn Investment Group boosted its stake in shares of ResMed by 8.1% in the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider's stock valued at $208,000 after buying an additional 68 shares during the period. 54.98% of the stock is currently owned by institutional investors.
ResMed Trading Down 0.8 %
Shares of RMD stock traded down $1.71 on Tuesday, hitting $222.14. The company had a trading volume of 766,886 shares, compared to its average volume of 1,002,499. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The firm has a market cap of $32.62 billion, a P/E ratio of 26.23, a P/E/G ratio of 1.53 and a beta of 0.74. The stock's 50-day moving average is $233.37 and its two-hundred day moving average is $237.83.
ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) 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 research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.
ResMed Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed's dividend payout ratio is 25.03%.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the company. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, March 25th. Piper Sandler lifted their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. The Goldman Sachs Group initiated coverage on ResMed in a research note on Thursday, January 16th. They set a "buy" rating for the company. Stifel Nicolaus reduced their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. Finally, KeyCorp increased their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $249.73.
View Our Latest Report on RMD
Insider Activity at ResMed
In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now owns 455,472 shares of the company's stock, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock worth $9,164,385 in the last 90 days. Corporate insiders own 0.71% of the company's stock.
About ResMed
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Free Report)
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.
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