Callan Family Office LLC Makes New $1.55 Million Investment in ResMed Inc. (NYSE:RMD)

Callan Family Office LLC acquired a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,778 shares of the medical equipment provider's stock, valued at approximately $1,550,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. E Fund Management Co. Ltd. boosted its position in shares of ResMed by 75.3% during the 4th quarter. E Fund Management Co. Ltd. now owns 1,672 shares of the medical equipment provider's stock valued at $382,000 after acquiring an additional 718 shares during the last quarter. Candriam S.C.A. raised its stake in ResMed by 6.2% in the fourth quarter. Candriam S.C.A. now owns 10,733 shares of the medical equipment provider's stock valued at $2,455,000 after purchasing an additional 630 shares in the last quarter. Raymond James Financial Inc. bought a new stake in ResMed during the fourth quarter valued at approximately $9,558,000. Promus Capital LLC purchased a new position in ResMed in the 4th quarter worth approximately $116,000. Finally, Dana Investment Advisors Inc. increased its holdings in shares of ResMed by 1.0% in the 4th quarter. Dana Investment Advisors Inc. now owns 29,253 shares of the medical equipment provider's stock worth $6,690,000 after buying an additional 303 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Trading Up 3.6 %

NYSE:RMD traded up $8.33 during midday trading on Monday, reaching $240.77. 421,989 shares of the stock traded hands, compared to its average volume of 967,634. The stock has a market capitalization of $35.36 billion, a P/E ratio of 28.41, a PEG ratio of 1.53 and a beta of 0.74. 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 company has a fifty day moving average of $236.70 and a 200 day moving average of $240.04. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05.

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ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating 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, research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. ResMed's dividend payout ratio is currently 25.03%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Stifel Nicolaus dropped their price target on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. JPMorgan Chase & Co. upped their price objective on ResMed from $270.00 to $286.00 and gave the stock 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. Finally, StockNews.com lowered ResMed from a "buy" rating to a "hold" rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, ResMed presently has an average rating of "Moderate Buy" and a consensus target price of $243.82.

Insider Transactions at ResMed

In other news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the sale, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,186 shares of company stock worth $4,996,646. 0.71% of the stock is currently owned by insiders.

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.