ResMed Inc. (NYSE:RMD) Shares Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC grew its position in ResMed Inc. (NYSE:RMDFree Report) by 8.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,627 shares of the medical equipment provider’s stock after purchasing an additional 359 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in ResMed were worth $684,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RMD. Norges Bank bought a new position in ResMed during the fourth quarter worth $244,477,000. abrdn plc increased its holdings in ResMed by 79.2% in the 3rd quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock valued at $133,303,000 after buying an additional 398,302 shares during the period. Renaissance Technologies LLC increased its holdings in ResMed by 202.4% in the 2nd quarter. Renaissance Technologies LLC now owns 390,700 shares of the medical equipment provider’s stock valued at $85,368,000 after buying an additional 261,500 shares during the period. Capital Research Global Investors increased its holdings in ResMed by 83.1% in the 1st quarter. Capital Research Global Investors now owns 557,558 shares of the medical equipment provider’s stock valued at $135,213,000 after buying an additional 253,121 shares during the period. Finally, Barclays PLC boosted its stake in shares of ResMed by 157.6% in the 2nd quarter. Barclays PLC now owns 397,465 shares of the medical equipment provider’s stock valued at $86,847,000 after purchasing an additional 243,151 shares in the last quarter. Institutional investors own 63.79% of the company’s stock.

ResMed Stock Performance

NYSE:RMD opened at $190.71 on Wednesday. The stock has a market cap of $28.05 billion, a P/E ratio of 31.52, a price-to-earnings-growth ratio of 2.38 and a beta of 0.69. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average is $173.68 and its 200-day moving average is $164.26. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $243.52.

ResMed (NYSE:RMDGet Free Report) last announced its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business posted $1.66 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. Equities research analysts anticipate that ResMed Inc. will post 7.37 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Wednesday, February 7th. ResMed’s payout ratio is 31.74%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 25th. Morgan Stanley raised shares of ResMed from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $180.00 to $169.00 in a research note on Friday, October 27th. JPMorgan Chase & Co. raised their target price on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Oppenheimer raised their target price on shares of ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Finally, Mizuho raised their target price on shares of ResMed from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $196.30.

Read Our Latest Research Report on RMD

Insiders Place Their Bets

In other news, CFO Brett Sandercock sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $152.62, for a total transaction of $457,860.00. Following the transaction, the chief financial officer now directly owns 92,962 shares of the company’s stock, valued at $14,187,860.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Brett Sandercock sold 3,000 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $152.62, for a total transaction of $457,860.00. Following the completion of the sale, the chief financial officer now directly owns 92,962 shares of the company’s stock, valued at approximately $14,187,860.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 5,678 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $152.04, for a total value of $863,283.12. Following the sale, the chief executive officer now directly owns 440,986 shares of the company’s stock, valued at $67,047,511.44. The disclosure for this sale can be found here. Company insiders own 1.21% of the company’s stock.

ResMed Company Profile

(Free Report)

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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