ResMed Inc. (NYSE:RMD) Stock Position Lifted by IFP Advisors Inc

IFP Advisors Inc boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 37.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 373 shares of the medical equipment provider’s stock after purchasing an additional 101 shares during the period. IFP Advisors Inc’s holdings in ResMed were worth $85,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position in ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in ResMed during the third quarter valued at approximately $34,000. Rosenberg Matthew Hamilton purchased a new position in ResMed during the fourth quarter valued at approximately $54,000. Capital Performance Advisors LLP purchased a new position in ResMed during the third quarter valued at approximately $60,000. Finally, Kentucky Trust Co purchased a new position in ResMed during the fourth quarter valued at approximately $82,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RMD. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday. KeyCorp boosted their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Piper Sandler boosted their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $243.82.

Insider Buying and Selling

In related news, 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 transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the transaction, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,186 shares of company stock valued at $4,541,226. Company insiders own 0.71% of the company’s stock.

ResMed Price Performance

NYSE RMD opened at $223.76 on Thursday. 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 company has a fifty day simple moving average of $236.90 and a 200 day simple moving average of $239.90. The company has a market cap of $32.86 billion, a P/E ratio of 26.42, a P/E/G ratio of 1.53 and a beta of 0.70. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings data 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%. On average, sell-side analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently disclosed 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. This represents a $2.12 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend 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.