Blue Trust Inc. Sells 522 Shares of ResMed Inc. (NYSE:RMD)

Blue Trust Inc. lessened its holdings in ResMed Inc. (NYSE:RMD) by 53.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 452 shares of the medical equipment provider’s stock after selling 522 shares during the quarter. Blue Trust Inc.’s holdings in ResMed were worth $103,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. True Wealth Design LLC raised its holdings in 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 buying an additional 110 shares during the period. Ashton Thomas Securities LLC acquired a new stake in ResMed during the 3rd quarter worth approximately $34,000. Rosenberg Matthew Hamilton acquired a new stake in ResMed during the 4th quarter worth approximately $54,000. Capital Performance Advisors LLP acquired a new stake in ResMed during the 3rd quarter worth approximately $60,000. Finally, Kentucky Trust Co acquired a new stake in ResMed during the 4th quarter worth approximately $82,000. Institutional investors own 54.98% of the company’s stock.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now directly owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,147 shares of company stock worth $2,905,745 over the last quarter. 0.71% of the stock is owned by corporate insiders.

ResMed Stock Down 0.5 %

Shares of NYSE RMD opened at $231.61 on Friday. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $34.02 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.53 and a beta of 0.70. The business has a 50-day moving average of $237.43 and a 200-day moving average of $239.07.

ResMed (NYSE:RMD) last released 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%. Sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. ResMed’s dividend payout ratio is presently 25.03%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective on the stock. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Piper Sandler lifted their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. 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, six have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average target price of $244.73.

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.