Legacy Wealth Asset Management LLC Sells 131 Shares of ResMed Inc. (NYSE:RMD)

Legacy Wealth Asset Management LLC decreased its holdings in ResMed Inc. (NYSE:RMD) by 8.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,448 shares of the medical equipment provider’s stock after selling 131 shares during the period. Legacy Wealth Asset Management LLC’s holdings in ResMed were worth $331,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in shares of 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 during the period. Ashton Thomas Securities LLC purchased a new position in shares of ResMed in the third quarter valued at about $34,000. Rosenberg Matthew Hamilton purchased a new position in shares of ResMed in the fourth quarter valued at about $54,000. Capital Performance Advisors LLP purchased a new stake in shares of ResMed during the third quarter worth about $60,000. Finally, Quarry LP grew its stake in shares of ResMed by 271.9% in the second quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 242 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the topic of several research analyst reports. Piper Sandler began coverage on ResMed in a research note on Friday, January 10th. They set a “neutral” rating and a $252.00 target price on the stock. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada raised their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. The Goldman Sachs Group started coverage on ResMed in a research report on Thursday. They issued a “buy” rating for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $233.09.

ResMed Stock Performance

Shares of NYSE RMD opened at $239.89 on Friday. The firm’s 50-day moving average price is $238.51 and its 200-day moving average price is $232.47. ResMed Inc. has a 52-week low of $170.39 and a 52-week high of $260.49. The company has a market cap of $35.22 billion, a PE ratio of 31.77, a PEG ratio of 1.69 and a beta of 0.70. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the business posted $1.64 EPS. As a group, analysts anticipate that ResMed Inc. will post 9.36 EPS for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.88%. ResMed’s dividend payout ratio is currently 28.08%.

Insider Transactions at ResMed

In other ResMed news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total transaction of $497,480.00. Following the sale, the director now owns 83,204 shares in the company, valued at $20,696,162.96. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,099 shares of company stock worth $2,719,385 in the last 90 days. 0.71% of the stock is currently owned by insiders.

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.