ResMed Inc. (NYSE:RMD) Shares Sold by Inspire Advisors LLC

Inspire Advisors LLC cut its stake in shares of ResMed Inc. (NYSE:RMD) by 7.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,548 shares of the medical equipment provider’s stock after selling 206 shares during the quarter. Inspire Advisors LLC’s holdings in ResMed were worth $583,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its position in shares of ResMed by 285.1% in the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after purchasing an additional 439 shares during the last quarter. Peak Financial Advisors LLC acquired a new position in shares of ResMed during the fourth quarter worth $2,972,000. Principal Financial Group Inc. increased its holdings in ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after buying an additional 5,284 shares during the last quarter. Retireful LLC acquired a new stake in ResMed in the third quarter valued at $742,000. Finally, Spire Wealth Management lifted its holdings in ResMed by 11.3% during the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after buying an additional 1,100 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on RMD. The Goldman Sachs Group initiated coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating 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 report on Friday, January 31st. KeyCorp upped their target price on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Stifel Nicolaus decreased their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.82.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Friday, February 7th. The stock was 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 in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the sale, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is owned by insiders.

ResMed Trading Down 4.7 %

NYSE:RMD opened at $225.47 on Wednesday. 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 firm has a market cap of $33.11 billion, a P/E ratio of 26.62, a PEG ratio of 1.53 and a beta of 0.74. The stock’s 50 day simple moving average is $236.80 and its 200-day simple moving average is $240.13. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05.

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

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.94%. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

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.