Menard Financial Group LLC acquired a new stake in ResMed Inc. (NYSE:RMD – Free Report) during the fourth quarter, HoldingsChannel reports. The fund acquired 428 shares of the medical equipment provider’s stock, valued at approximately $98,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atomi Financial Group Inc. acquired a new stake in shares of ResMed during the 4th quarter worth $246,000. Mutual Advisors LLC acquired a new stake in shares of ResMed during the 4th quarter worth $208,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of ResMed during the 4th quarter worth $236,000. Blue Trust Inc. grew its holdings in shares of ResMed by 43.1% during the 4th quarter. Blue Trust Inc. now owns 1,394 shares of the medical equipment provider’s stock worth $340,000 after purchasing an additional 420 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of ResMed by 2.1% during the 4th quarter. KBC Group NV now owns 74,253 shares of the medical equipment provider’s stock worth $16,981,000 after purchasing an additional 1,522 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently issued reports on RMD. KeyCorp set a $274.00 target price on ResMed in a report on Thursday, April 24th. JPMorgan Chase & Co. increased their target price on ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Piper Sandler dropped their price objective on ResMed from $260.00 to $248.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $259.33.
ResMed Price Performance
ResMed stock opened at $243.03 on Tuesday. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05. 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 market capitalization of $35.63 billion, a PE ratio of 28.69, a P/E/G ratio of 1.53 and a beta of 0.78. The stock has a 50-day moving average price of $228.30 and a two-hundred day moving average price of $234.10.
ResMed (NYSE:RMD – Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the company earned $2.13 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. Analysts expect that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.87%. ResMed’s dividend payout ratio is currently 23.79%.
Insider Buying and Selling
In related news, Director Witte Jan De sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the completion of the sale, the director now owns 5,806 shares of the company’s stock, valued at $1,413,586.82. This trade represents a 25.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $209.85, for a total value of $1,680,688.65. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $95,580,799.20. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,949 shares of company stock valued at $11,822,260 over the last 90 days. Company 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.
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