Xponance Inc. Trims Position in ResMed Inc. (NYSE:RMD)

Xponance Inc. reduced its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,708 shares of the medical equipment provider's stock after selling 2,564 shares during the quarter. Xponance Inc.'s holdings in ResMed were worth $6,565,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. 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. OFI Invest Asset Management acquired a new stake in ResMed in the fourth quarter valued at approximately $39,000. BankPlus Trust Department bought a new stake in shares of ResMed during the fourth quarter valued at approximately $44,000. Rosenberg Matthew Hamilton acquired a new position in shares of ResMed during the fourth quarter worth approximately $54,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of ResMed in the 4th quarter worth $67,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on RMD shares. Piper Sandler upped their price objective on shares of ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. UBS Group upgraded shares of ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Morgan Stanley assumed coverage on ResMed in a report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price objective for the company. KeyCorp raised their target price on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $246.83.

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Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the 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 transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % 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 link. Also, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is owned by insiders.

ResMed Stock Performance

NYSE RMD traded up $3.25 during trading hours on Monday, reaching $222.95. 753,695 shares of the company were exchanged, compared to its average volume of 958,973. The stock has a market capitalization of $32.74 billion, a P/E ratio of 26.32, a P/E/G ratio of 1.53 and a beta of 0.74. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. The business's 50 day simple moving average is $234.91 and its 200-day simple moving average is $238.98.

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

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.95%. ResMed's payout ratio is 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.