ResMed Inc. (NYSE:RMD) Stake Raised by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC raised its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 147.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,445 shares of the medical equipment provider's stock after acquiring an additional 5,032 shares during the quarter. Tower Research Capital LLC TRC's holdings in ResMed were worth $1,931,000 at the end of the most recent quarter.

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

ResMed Trading Up 1.7 %

ResMed stock opened at $214.40 on Wednesday. The business's 50-day simple moving average is $222.11 and its 200-day simple moving average is $234.16. ResMed Inc. has a 52 week low of $179.00 and a 52 week high of $263.05. The firm has a market capitalization of $31.49 billion, a PE ratio of 25.31, a PEG ratio of 1.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data 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%. Equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Thursday, February 13th. ResMed's dividend payout ratio is currently 25.03%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RMD. KeyCorp lowered their target price on ResMed from $280.00 to $269.00 and set an "overweight" rating on the stock in a research note on Monday. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. UBS Group upgraded ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. Finally, Piper Sandler increased their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research note 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 given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $250.08.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $95,580,799.20. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction 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 completion of the sale, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,013 shares of company stock worth $11,298,816. Company insiders own 0.71% of the company's stock.

ResMed Company 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.

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