Orion Portfolio Solutions LLC Decreases Stock Holdings in ResMed Inc. (NYSE:RMD)

Orion Portfolio Solutions LLC lowered its position in shares of ResMed Inc. (NYSE:RMD) by 1.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,611 shares of the medical equipment provider’s stock after selling 78 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in ResMed were worth $1,054,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Howard Capital Management Inc. boosted its holdings in shares of ResMed by 5.3% during the fourth 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. SkyView Investment Advisors LLC lifted its holdings in ResMed by 2.0% in 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 period. Wedmont Private Capital grew its position in shares of ResMed by 2.6% in the 4th 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. Brooklyn Investment Group increased its stake in shares of ResMed by 8.1% during the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock valued at $208,000 after buying an additional 68 shares during the period. Finally, Miracle Mile Advisors LLC raised its holdings in shares of ResMed by 9.2% during the fourth quarter. Miracle Mile Advisors LLC now owns 917 shares of the medical equipment provider’s stock valued at $210,000 after acquiring an additional 77 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 4.0 %

ResMed stock opened at $204.72 on Friday. The firm has a market cap of $30.07 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 1.53 and a beta of 0.74. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The stock has a fifty day simple moving average of $230.74 and a two-hundred day simple moving average of $236.95.

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

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Buying and Selling at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares in the company, valued at $2,289,265. The trade was a 48.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,004 shares of company stock worth $9,618,128. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RMD. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Stifel Nicolaus cut their price objective on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. The Goldman Sachs Group started coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. Finally, StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a report on Wednesday. One 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $249.73.

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.