Johnson Investment Counsel Inc. Acquires Shares of 1,620 ResMed Inc. (NYSE:RMD)

Johnson Investment Counsel Inc. bought a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,620 shares of the medical equipment provider's stock, valued at approximately $371,000.

Several other institutional investors also recently modified their holdings of RMD. True Wealth Design LLC grew its position in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 110 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of ResMed in the third quarter valued at approximately $34,000. OFI Invest Asset Management bought a new stake in shares of ResMed during the fourth quarter worth $39,000. BankPlus Trust Department bought a new stake in shares of ResMed during the fourth quarter worth $44,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in shares of ResMed during the fourth quarter worth $54,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $229.20, for a total value of $1,835,662.80. Following the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $104,394,182.40. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction that occurred on 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 directly owns 9,725 shares of the company's stock, valued at $2,289,265. This represents a 48.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by corporate insiders.

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ResMed Price Performance

Shares of ResMed stock traded up $0.30 on Monday, reaching $224.46. 805,633 shares of the stock were exchanged, compared to its average volume of 964,728. 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 $32.97 billion, a PE ratio of 26.50, a P/E/G ratio of 1.53 and a beta of 0.74. The firm's 50 day moving average is $236.30 and its 200-day moving average is $239.80. ResMed Inc. has a one year low of $172.19 and a one year high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last released its 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%. As a group, analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders 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 annualized dividend and a yield of 0.94%. ResMed's dividend payout ratio is presently 25.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RMD. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a research report on Saturday. Piper Sandler increased their price target 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. Stifel Nicolaus decreased their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a report on Friday, January 31st. Finally, The Goldman Sachs Group started coverage on ResMed in a report on Thursday, January 16th. They set a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, ResMed currently has a consensus rating of "Moderate Buy" and a consensus target price of $243.82.

ResMed 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.