Axxcess Wealth Management LLC grew its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 63.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,969 shares of the medical equipment provider's stock after purchasing an additional 3,853 shares during the quarter. Axxcess Wealth Management LLC's holdings in ResMed were worth $2,280,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMD. Parallel Advisors LLC lifted its stake in ResMed by 6.4% during the fourth quarter. Parallel Advisors LLC now owns 1,697 shares of the medical equipment provider's stock worth $388,000 after purchasing an additional 102 shares during the period. Cibc World Markets Corp raised its holdings in shares of ResMed by 15.8% in the 4th quarter. Cibc World Markets Corp now owns 23,141 shares of the medical equipment provider's stock worth $5,292,000 after buying an additional 3,164 shares in the last quarter. SlateStone Wealth LLC lifted its position in shares of ResMed by 6.0% during the 4th quarter. SlateStone Wealth LLC now owns 12,246 shares of the medical equipment provider's stock worth $2,800,000 after buying an additional 696 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of ResMed by 157.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,017 shares of the medical equipment provider's stock valued at $1,376,000 after purchasing an additional 3,678 shares in the last quarter. Finally, one8zero8 LLC bought a new stake in ResMed during the fourth quarter worth about $240,000. Institutional investors and hedge funds own 54.98% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on RMD. JPMorgan Chase & Co. increased their price target on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Piper Sandler raised their target price on ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They issued a "buy" rating for the company. Stifel Nicolaus decreased their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. Finally, UBS Group upgraded shares of ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $246.83.
Read Our Latest Research Report on RMD
ResMed Stock Up 1.5 %
Shares of RMD traded up $3.25 during midday trading on Monday, hitting $222.95. The stock had a trading volume of 753,695 shares, compared to its average volume of 958,973. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The firm has a market cap of $32.74 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company has a 50 day simple moving average of $234.91 and a two-hundred day simple moving average of $238.98. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05.
ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS 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%. On average, analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Thursday, February 13th. ResMed's dividend payout ratio is currently 25.03%.
Insider Buying and Selling at ResMed
In related news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 9,725 shares of the company's stock, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $18,695,249.98. This represents a 2.52 % 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 quarter. 0.71% of the stock is currently owned by insiders.
ResMed Company Profile
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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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