Sanctuary Advisors LLC Reduces Position in ResMed Inc. (NYSE:RMD)

Sanctuary Advisors LLC lessened its holdings in shares of ResMed Inc. (NYSE:RMD) by 8.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,668 shares of the medical equipment provider’s stock after selling 597 shares during the quarter. Sanctuary Advisors LLC’s holdings in ResMed were worth $1,525,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of RMD. International Assets Investment Management LLC grew its stake in ResMed by 24,311.9% in the 3rd quarter. International Assets Investment Management LLC now owns 26,609 shares of the medical equipment provider’s stock valued at $6,496,000 after buying an additional 26,500 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of ResMed by 46.0% in the third quarter. Assenagon Asset Management S.A. now owns 48,931 shares of the medical equipment provider’s stock valued at $11,945,000 after purchasing an additional 15,424 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of ResMed by 31.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,254 shares of the medical equipment provider’s stock valued at $2,212,000 after purchasing an additional 2,212 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in ResMed by 35.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,271 shares of the medical equipment provider’s stock worth $1,775,000 after purchasing an additional 1,893 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in ResMed by 16.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 31,923 shares of the medical equipment provider’s stock worth $7,590,000 after purchasing an additional 4,507 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

RMD opened at $229.47 on Tuesday. 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 stock has a market capitalization of $33.70 billion, a P/E ratio of 27.09, a PEG ratio of 1.53 and a beta of 0.70. The stock has a 50-day moving average price of $237.20 and a 200-day moving average price of $239.52. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $263.05.

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%. Equities analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm 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. The ex-dividend date of this dividend 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 (DPR) is 25.03%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RMD. Piper Sandler upped their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was 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 owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,147 shares of company stock valued at $2,905,745. Insiders own 0.71% of the company’s stock.

ResMed Company Profile

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.