Corient Private Wealth LLC Reduces Position in ResMed Inc. (NYSE:RMD)

Corient Private Wealth LLC lowered its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,984 shares of the medical equipment provider's stock after selling 2,974 shares during the period. Corient Private Wealth LLC owned 0.06% of ResMed worth $18,978,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. GSA Capital Partners LLP acquired a new position in ResMed during the third quarter worth $410,000. OneDigital Investment Advisors LLC grew its holdings in shares of ResMed by 4.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,558 shares of the medical equipment provider's stock worth $624,000 after purchasing an additional 100 shares during the period. Empowered Funds LLC grew its holdings in shares of ResMed by 284.3% during the 3rd quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider's stock worth $2,004,000 after purchasing an additional 6,072 shares during the period. Natixis Advisors LLC grew its holdings in shares of ResMed by 31.9% during the 3rd quarter. Natixis Advisors LLC now owns 51,498 shares of the medical equipment provider's stock worth $12,572,000 after purchasing an additional 12,445 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in shares of ResMed by 12.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider's stock worth $1,697,000 after purchasing an additional 755 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a report on Friday, January 31st. UBS Group upgraded ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a report on Saturday, March 15th. KeyCorp increased their target price on ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, Piper Sandler increased their target price on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $246.83.

ResMed Stock Down 0.6 %

RMD stock traded down $1.35 during mid-day trading on Friday, reaching $219.77. The company had a trading volume of 1,171,311 shares, compared to its average volume of 960,479. 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 market capitalization of $32.28 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The firm has a fifty day simple moving average of $234.91 and a 200 day simple moving average of $239.06. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Analysts forecast 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 issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.96%. ResMed's payout ratio is currently 25.03%.

Insider Activity

In other news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the transaction, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. This represents a 48.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $229.20, for a total value of $1,835,662.80. Following the completion of the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $104,394,182.40. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is currently owned by insiders.

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.