Ieq Capital LLC Grows Position in ResMed Inc. (NYSE:RMD)

Ieq Capital LLC boosted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 184.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,693 shares of the medical equipment provider's stock after buying an additional 25,730 shares during the quarter. Ieq Capital LLC's holdings in ResMed were worth $9,077,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RMD. Alberta Investment Management Corp bought a new stake in shares of ResMed during the fourth quarter valued at approximately $2,378,000. Global Retirement Partners LLC raised its position in ResMed by 50.8% during the 4th quarter. Global Retirement Partners LLC now owns 582 shares of the medical equipment provider's stock valued at $133,000 after purchasing an additional 196 shares in the last quarter. Convergence Investment Partners LLC purchased a new stake in shares of ResMed in the 4th quarter worth $1,026,000. Bfsg LLC grew its position in shares of ResMed by 2.3% during the 4th quarter. Bfsg LLC now owns 17,562 shares of the medical equipment provider's stock worth $4,016,000 after buying an additional 395 shares in the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of ResMed during the fourth quarter valued at $601,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the sale, the director now owns 81,218 shares in the company, valued at $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,147 shares of company stock valued at $2,905,745 in the last ninety days. Company insiders own 0.71% of the company's stock.

ResMed Stock Down 0.5 %

NYSE RMD traded down $1.18 during trading on Friday, hitting $231.61. The company's stock had a trading volume of 518,460 shares, compared to its average volume of 955,284. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $263.05. The company has a market cap of $34.02 billion, a PE ratio of 27.34, a P/E/G ratio of 1.55 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The business's 50 day simple moving average is $237.57 and its 200-day simple moving average is $238.96.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping analysts' consensus estimates 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 anticipate that ResMed Inc. will post 9.44 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed's dividend payout ratio (DPR) is presently 25.03%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Stifel Nicolaus initiated coverage on shares of ResMed in a research note on Friday, December 13th. They issued a "hold" rating and a $250.00 price objective for the company. KeyCorp increased their price objective on shares of ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Robert W. Baird boosted their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. The Goldman Sachs Group initiated coverage on ResMed in a research report on Thursday, January 16th. They set a "buy" rating on the stock. Finally, Piper Sandler boosted 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, ResMed has a consensus rating of "Moderate Buy" and a consensus price target of $244.73.

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.