Kestra Private Wealth Services LLC Buys 4,702 Shares of ResMed Inc. (NYSE:RMD)

Kestra Private Wealth Services LLC grew its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 116.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,743 shares of the medical equipment provider's stock after purchasing an additional 4,702 shares during the quarter. Kestra Private Wealth Services LLC's holdings in ResMed were worth $1,999,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in RMD. True Wealth Design LLC raised 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 worth $28,000 after buying an additional 110 shares during the period. Ashton Thomas Securities LLC purchased a new position in ResMed in the third quarter valued at about $34,000. Rosenberg Matthew Hamilton acquired a new stake in shares of ResMed during the fourth quarter valued at about $54,000. Capital Performance Advisors LLP acquired a new stake in shares of ResMed during the third quarter valued at about $60,000. Finally, Venturi Wealth Management LLC grew its stake in shares of ResMed by 55.7% during the third quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider's stock valued at $83,000 after acquiring an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

ResMed Stock Down 2.7 %

Shares of ResMed stock traded down $6.55 on Friday, hitting $232.93. 1,025,931 shares of the company traded hands, compared to its average volume of 1,059,213. The company has a 50-day moving average price of $238.51 and a 200 day moving average price of $238.47. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $263.05. The company has a market cap of $34.21 billion, a PE ratio of 27.50, a PEG ratio of 1.57 and a beta of 0.70.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results 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%. Sell-side analysts predict that ResMed Inc. will post 9.44 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Thursday, February 13th. ResMed's dividend payout ratio is currently 25.03%.

Insider Activity

In related news, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the sale, the insider now owns 21,718 shares of the company's stock, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,307 shares of company stock worth $4,403,180 in the last ninety days. Corporate insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RMD. Royal Bank of Canada lifted their price target on ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. Piper Sandler lifted their price target on ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a report on Friday, January 31st. KeyCorp boosted their target price on ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Robert W. Baird boosted their target price on ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group started coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.