Bryce Point Capital LLC Acquires Shares of 7,954 ResMed Inc. (NYSE:RMD)

Bryce Point Capital LLC acquired a new position in ResMed Inc. (NYSE:RMD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,954 shares of the medical equipment provider's stock, valued at approximately $1,819,000. ResMed comprises about 0.5% of Bryce Point Capital LLC's investment portfolio, making the stock its 23rd largest holding.

Several other large investors have also modified their holdings of the business. Huntington National Bank raised its position in ResMed by 9.3% during the 4th quarter. Huntington National Bank now owns 2,042 shares of the medical equipment provider's stock valued at $467,000 after purchasing an additional 174 shares in the last quarter. Geode Capital Management LLC increased its holdings in ResMed by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock valued at $899,860,000 after buying an additional 85,270 shares during the period. HighPoint Advisor Group LLC raised its stake in ResMed by 2.6% in the fourth quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider's stock worth $610,000 after buying an additional 64 shares in the last quarter. Franklin Resources Inc. lifted its holdings in ResMed by 13.9% during the fourth quarter. Franklin Resources Inc. now owns 198,372 shares of the medical equipment provider's stock worth $45,366,000 after buying an additional 24,259 shares during the period. Finally, Mawer Investment Management Ltd. lifted its stake in shares of ResMed by 14.2% during the 4th quarter. Mawer Investment Management Ltd. now owns 87,443 shares of the medical equipment provider's stock worth $19,997,000 after purchasing an additional 10,889 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research note on Friday, January 31st. StockNews.com downgraded shares of ResMed from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. KeyCorp increased their target price on shares of ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Piper Sandler upped their price target on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their price objective on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $249.73.

ResMed Stock Performance

RMD stock traded up $5.26 during trading on Monday, hitting $210.43. 949,368 shares of the company traded hands, compared to its average volume of 970,347. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. The company has a market cap of $30.90 billion, a PE ratio of 24.84, a P/E/G ratio of 1.53 and a beta of 0.75. The stock's 50-day simple moving average is $230.74 and its 200 day simple moving average is $236.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share 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, equities analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed's payout ratio is currently 25.03%.

Insider Activity

In other news, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the transaction, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. This trade represents a 50.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $219.74, for a total transaction of $439,480.00. Following the completion of the sale, the director now directly owns 73,218 shares of the company's stock, valued at approximately $16,088,923.32. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,004 shares of company stock worth $9,618,128 in the last ninety days. Company insiders own 0.71% of the company's stock.

ResMed Company Profile

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.