Wakefield Asset Management LLLP Takes Position in ResMed Inc. (NYSE:RMD)

Wakefield Asset Management LLLP acquired a new position in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 14,432 shares of the medical equipment provider’s stock, valued at approximately $3,300,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Howard Capital Management Inc. lifted its position in shares of ResMed by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after purchasing an additional 45 shares during the period. Ascent Group LLC boosted its stake in ResMed by 1.7% in the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after acquiring an additional 48 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in ResMed by 2.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after buying an additional 51 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after buying an additional 52 shares during the last quarter. Finally, Concurrent Investment Advisors LLC boosted its position in ResMed by 3.1% in the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after buying an additional 57 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Stifel Nicolaus initiated coverage on ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price target on the stock. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, KeyCorp lifted their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.73.

ResMed Trading Down 1.5 %

Shares of RMD stock opened at $231.03 on Friday. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $237.14 and a 200-day simple moving average of $239.56. The stock has a market cap of $33.93 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.53 and a beta of 0.70.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio is 25.03%.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,147 shares of company stock valued at $2,905,745 over the last three months. 0.71% of the stock is currently owned by insiders.

ResMed 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.