SVB Wealth LLC Takes $257,000 Position in ResMed Inc. (NYSE:RMD)

SVB Wealth LLC acquired a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,123 shares of the medical equipment provider's stock, valued at approximately $257,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC boosted its position 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 in the last quarter. Ashton Thomas Securities LLC bought a new position in ResMed in the 3rd quarter valued at about $34,000. BankPlus Trust Department bought a new position in ResMed in the 4th quarter valued at about $44,000. Rosenberg Matthew Hamilton bought a new position in ResMed in the 4th quarter valued at about $54,000. Finally, Capital Performance Advisors LLP bought a new position in ResMed in the 3rd quarter valued at about $60,000. Institutional investors own 54.98% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RMD shares. UBS Group raised shares of ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on shares of ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Piper Sandler increased their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a "neutral" 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 note on Wednesday. Finally, Stifel Nicolaus decreased their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $243.82.

Remove Ads

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the transaction, the director now directly owns 75,218 shares of the company's stock, valued at approximately $17,127,890.78. This trade represents a 2.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm's 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,186 shares of company stock valued at $4,996,646. Company insiders own 0.71% of the company's stock.

ResMed Stock Performance

Shares of RMD stock traded up $7.37 during trading hours on Friday, hitting $232.40. 908,219 shares of the company were exchanged, compared to its average volume of 969,666. The firm has a fifty day simple moving average of $236.70 and a 200 day simple moving average of $239.93. 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 Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The stock has a market capitalization of $34.13 billion, a price-to-earnings ratio of 27.44, a P/E/G ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. ResMed's payout ratio is currently 25.03%.

About ResMed

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.