Maridea Wealth Management LLC Invests $481,000 in ResMed Inc. (NYSE:RMD)

Maridea Wealth Management LLC acquired a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 2,105 shares of the medical equipment provider's stock, valued at approximately $481,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of ResMed by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock worth $4,156,089,000 after purchasing an additional 160,590 shares during the period. State Street Corp raised its position in ResMed by 1.9% during the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider's stock worth $1,528,590,000 after buying an additional 116,918 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock worth $939,114,000 after acquiring an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of ResMed by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider's stock valued at $218,861,000 after acquiring an additional 32,973 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of ResMed by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider's stock worth $181,237,000 after acquiring an additional 2,406 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the transaction, the insider now owns 9,725 shares of the company's stock, valued at $2,289,265. This represents a 48.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on 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 sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at approximately $104,394,182.40. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,940 shares of company stock worth $9,164,385 over the last ninety days. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RMD shares. Morgan Stanley began coverage on shares of ResMed in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price objective for the company. The Goldman Sachs Group started coverage on ResMed in a research note on Thursday, January 16th. They issued a "buy" rating on the stock. Piper Sandler increased their price objective on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. UBS Group upgraded shares of ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $249.73.

ResMed Price Performance

NYSE:RMD traded down $1.71 during mid-day trading on Tuesday, hitting $222.14. 676,029 shares of the company's stock traded hands, compared to its average volume of 1,002,143. 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 cap of $32.62 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The firm's 50 day simple moving average is $233.37 and its 200 day simple moving average is $237.83. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Sell-side analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.95%. ResMed's dividend payout ratio is currently 25.03%.

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.