Stephens Inc. AR trimmed its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,541 shares of the medical equipment provider's stock after selling 3,918 shares during the quarter. Stephens Inc. AR's holdings in ResMed were worth $12,244,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in RMD. Empowered Funds LLC lifted its stake in shares of ResMed by 47.5% in the fourth quarter. Empowered Funds LLC now owns 12,110 shares of the medical equipment provider's stock worth $2,769,000 after acquiring an additional 3,902 shares during the period. Hendershot Investments Inc. lifted its stake in shares of ResMed by 2.1% in the fourth quarter. Hendershot Investments Inc. now owns 45,456 shares of the medical equipment provider's stock worth $10,395,000 after acquiring an additional 914 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in shares of ResMed by 12.5% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 888 shares of the medical equipment provider's stock worth $203,000 after acquiring an additional 99 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of ResMed by 14.3% in the fourth quarter. Apollon Wealth Management LLC now owns 1,659 shares of the medical equipment provider's stock worth $379,000 after acquiring an additional 208 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of ResMed by 1.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,821 shares of the medical equipment provider's stock worth $3,618,000 after acquiring an additional 273 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on RMD shares. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research note on Friday, January 31st. The Goldman Sachs Group started coverage on ResMed in a research note on Thursday, January 16th. They issued a "buy" rating on the stock. Royal Bank of Canada lifted their price objective on ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. Piper Sandler lifted 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. Finally, JPMorgan Chase & Co. lifted their target price on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. One 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 company's stock. According to MarketBeat, ResMed has an average rating of "Moderate Buy" and an average target price of $244.73.
Check Out Our Latest Stock Report on RMD
Insider Transactions at ResMed
In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 directly owns 81,218 shares of the company's stock, valued at $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Justin Leong sold 6,160 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the sale, the insider now directly owns 21,718 shares of the company's stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,307 shares of company stock valued at $4,403,180 over the last ninety days. 0.71% of the stock is currently owned by insiders.
ResMed Stock Up 1.2 %
Shares of NYSE:RMD traded up $2.79 during trading on Thursday, reaching $239.39. 696,263 shares of the stock were exchanged, compared to its average volume of 976,906. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 1-year low of $170.56 and a 1-year high of $263.05. The stock has a fifty day moving average of $238.68 and a two-hundred day moving average of $238.29. The firm has a market cap of $35.16 billion, a price-to-earnings ratio of 28.26, a price-to-earnings-growth ratio of 1.57 and a beta of 0.70.
ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping 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%. Research analysts anticipate that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.
ResMed Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, February 13th. ResMed's dividend payout ratio (DPR) is presently 25.03%.
ResMed 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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