Spire Wealth Management Cuts Stock Holdings in ResMed Inc. $RMD

Spire Wealth Management reduced its stake in ResMed Inc. (NYSE:RMD) by 80.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,373 shares of the medical equipment provider’s stock after selling 5,666 shares during the period. Spire Wealth Management’s holdings in ResMed were worth $331,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Dakota Wealth Management grew its position in shares of ResMed by 29.1% during the fourth quarter. Dakota Wealth Management now owns 33,948 shares of the medical equipment provider’s stock valued at $8,177,000 after purchasing an additional 7,651 shares in the last quarter. Global X Japan Co. Ltd. lifted its position in shares of ResMed by 6,921.8% in the fourth quarter. Global X Japan Co. Ltd. now owns 3,862 shares of the medical equipment provider’s stock worth $930,000 after buying an additional 3,807 shares in the last quarter. Regatta Capital Group LLC bought a new position in ResMed during the fourth quarter valued at approximately $2,508,000. Czech National Bank boosted its stake in ResMed by 3.5% during the fourth quarter. Czech National Bank now owns 38,490 shares of the medical equipment provider’s stock valued at $9,271,000 after buying an additional 1,303 shares during the last quarter. Finally, JGP Wealth Management LLC grew its holdings in ResMed by 5.2% during the 4th quarter. JGP Wealth Management LLC now owns 4,495 shares of the medical equipment provider’s stock valued at $1,083,000 after buying an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

RMD has been the topic of a number of research reports. Wells Fargo & Company lifted their price objective on ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Royal Bank Of Canada raised their target price on shares of ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a report on Friday, January 30th. UBS Group restated a “buy” rating and issued a $345.00 price target on shares of ResMed in a research report on Friday, December 12th. Citigroup upped their price target on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, Robert W. Baird set a $281.00 price objective on shares of ResMed in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $299.27.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the completion of the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at $127,642,532.94. This trade represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 23,023 shares of company stock worth $5,843,111 in the last quarter. Company insiders own 0.65% of the company’s stock.

ResMed Price Performance

NYSE:RMD opened at $224.23 on Friday. The firm has a market capitalization of $32.67 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.48 and a beta of 0.93. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The business has a 50 day simple moving average of $247.09 and a 200-day simple moving average of $253.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32.

ResMed (NYSE:RMD) last released its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company posted $2.43 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, February 12th. ResMed’s payout ratio is presently 23.74%.

About ResMed

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.