ResMed Inc. $RMD Holdings Cut by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its stake in ResMed Inc. (NYSE:RMD) by 51.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,186 shares of the medical equipment provider’s stock after selling 2,350 shares during the period. NewEdge Wealth LLC’s holdings in ResMed were worth $598,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. SJS Investment Consulting Inc. lifted its holdings in shares of ResMed by 1,433.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 86 shares during the last quarter. WFA of San Diego LLC acquired a new stake in ResMed in the second quarter worth $26,000. Westside Investment Management Inc. increased its position in ResMed by 100.0% in the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 66 shares during the period. GoalVest Advisory LLC bought a new stake in ResMed in the third quarter valued at $37,000. Finally, IMA Advisory Services Inc. boosted its holdings in shares of ResMed by 52.7% during the third quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 48 shares during the period. 54.98% of the stock is owned by institutional investors.

ResMed Trading Up 0.7%

Shares of NYSE:RMD opened at $260.97 on Tuesday. The company has a 50 day moving average of $253.32 and a 200-day moving average of $261.72. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The firm has a market cap of $38.02 billion, a P/E ratio of 25.81, a P/E/G ratio of 1.72 and a beta of 0.87. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.68 by $0.13. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.43 earnings per share. As a group, analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s payout ratio is currently 23.74%.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $273.78, for a total value of $1,366,435.98. Following the sale, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $127,642,532.94. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total transaction of $502,620.00. Following the completion of the sale, the director directly owned 64,773 shares of the company’s stock, valued at $16,278,102.63. The trade was a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 16,082 shares of company stock valued at $4,134,807. Insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on RMD. Wall Street Zen raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Morgan Stanley set a $305.00 target price on shares of ResMed in a research report on Friday, October 31st. Piper Sandler lifted their price target on ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Robert W. Baird set a $281.00 price objective on ResMed in a research report on Friday, January 30th. Finally, KeyCorp restated an “overweight” rating and issued a $302.00 target price on shares of ResMed in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $299.27.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.