Proficio Capital Partners LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 220,228 shares of the medical equipment provider's stock, valued at approximately $50,364,000. Proficio Capital Partners LLC owned 0.15% of ResMed as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Howard Capital Management Inc. lifted its holdings in ResMed by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock valued at $206,000 after purchasing an additional 45 shares during the last quarter. Ascent Group LLC lifted its stake in shares of ResMed by 1.7% during the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider's stock valued at $714,000 after buying an additional 48 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider's stock worth $637,000 after buying an additional 51 shares during the period. Wedmont Private Capital grew its stake in ResMed by 2.6% in the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider's stock valued at $475,000 after buying an additional 52 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its holdings in ResMed by 3.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider's stock valued at $469,000 after acquiring an additional 57 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.
ResMed Price Performance
Shares of NYSE:RMD traded down $0.40 during trading on Monday, reaching $233.12. The company had a trading volume of 722,848 shares, compared to its average volume of 963,214. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $34.24 billion, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. The company has a fifty day moving average of $237.06 and a two-hundred day moving average of $239.95.
ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share 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%. Equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current 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 paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed's dividend payout ratio is currently 25.03%.
Insider Buying and Selling at ResMed
In other news, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares of the company's stock, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their position. The sale 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 stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares in the company, 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 12,073 shares of company stock worth $2,887,326 over the last ninety days. Insiders own 0.71% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have recently commented on RMD shares. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Piper Sandler raised their target price on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price target on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Finally, The Goldman Sachs Group started coverage on shares of ResMed in a research note on Thursday, January 16th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, six have given 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $244.73.
Check Out Our Latest Stock Report on RMD
About ResMed
(
Free Report)
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.
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