UNIVEST FINANCIAL Corp Acquires 1,470 Shares of ResMed Inc. (NYSE:RMD)

UNIVEST FINANCIAL Corp increased its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,838 shares of the medical equipment provider's stock after acquiring an additional 1,470 shares during the quarter. UNIVEST FINANCIAL Corp's holdings in ResMed were worth $3,622,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC raised its stake in shares of ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 110 shares during the period. OFI Invest Asset Management bought a new stake in ResMed in the fourth quarter worth about $39,000. BankPlus Trust Department bought a new stake in ResMed in the fourth quarter worth about $44,000. Rosenberg Matthew Hamilton bought a new position in shares of ResMed during the 4th quarter valued at approximately $54,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of ResMed during the 4th quarter valued at approximately $67,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insiders Place Their Bets

In related news, insider Kaushik Ghoshal sold 9,745 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. The trade was a 50.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,940 shares of company stock valued at $9,164,385 in the last quarter. Corporate insiders own 0.71% of the company's stock.

Remove Ads

ResMed Price Performance

Shares of ResMed stock traded down $2.77 during trading on Friday, hitting $219.85. The stock had a trading volume of 542,418 shares, compared to its average volume of 1,003,105. The firm has a market cap of $32.29 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The business's 50-day moving average is $233.70 and its 200 day moving average is $238.13. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

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 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%. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.96%. ResMed's dividend payout ratio is presently 25.03%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, March 25th. Morgan Stanley initiated coverage on ResMed in a research note on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price target for the company. KeyCorp boosted their price objective on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. Finally, Needham & Company LLC reissued a "hold" rating on shares of ResMed in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $249.73.

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.