Nutshell Asset Management Ltd Invests $2.23 Million in ResMed Inc. (NYSE:RMD)

Nutshell Asset Management Ltd bought a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 9,746 shares of the medical equipment provider's stock, valued at approximately $2,229,000. ResMed accounts for approximately 1.4% of Nutshell Asset Management Ltd's investment portfolio, making the stock its 23rd largest holding.

Other hedge funds also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in ResMed during the fourth quarter worth about $39,000. BankPlus Trust Department bought a new position in ResMed during the 4th quarter worth approximately $44,000. Rosenberg Matthew Hamilton acquired a new stake in ResMed in the fourth quarter worth $54,000. SBI Securities Co. Ltd. bought a new stake in shares of ResMed in the 4th quarter valued at $67,000. Finally, Kentucky Trust Co acquired a new position in ResMed in the fourth quarter valued at about $82,000. Institutional investors own 54.98% of the company's stock.

ResMed Stock Performance

Shares of RMD traded down $3.42 during midday trading on Thursday, reaching $213.02. The stock had a trading volume of 556,233 shares, compared to its average volume of 1,014,134. The firm has a 50 day simple moving average of $226.80 and a 200-day simple moving average of $235.88. ResMed Inc. has a one year low of $172.19 and a one year high of $263.05. The firm has a market cap of $31.29 billion, a PE ratio of 25.04, a P/E/G ratio of 1.53 and a beta of 0.75. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

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

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given 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 yield of 1.00%. ResMed's dividend payout ratio (DPR) is presently 25.03%.

Analyst Ratings Changes

RMD has been the topic of several research analyst reports. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They set a "buy" rating on the stock. JPMorgan Chase & Co. boosted their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Piper Sandler increased their target price on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Needham & Company LLC restated a "hold" rating on shares of ResMed in a report on Friday, January 31st. Finally, Stifel Nicolaus decreased their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and an average target price of $249.73.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,013 shares of company stock worth $11,298,816 over the last quarter. Company insiders own 0.71% of the company's stock.

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.