ResMed Inc. (NYSE:RMD) Holdings Lifted by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in ResMed Inc. (NYSE:RMD) by 4.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 41,279 shares of the medical equipment provider’s stock after purchasing an additional 1,945 shares during the quarter. Van ECK Associates Corp’s holdings in ResMed were worth $9,440,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC boosted its position in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of ResMed in the 3rd quarter valued at $34,000. Rosenberg Matthew Hamilton acquired a new position in shares of ResMed in the 4th quarter valued at $54,000. Capital Performance Advisors LLP acquired a new position in shares of ResMed in the 3rd quarter valued at $60,000. Finally, Venturi Wealth Management LLC boosted its position in shares of ResMed by 55.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock valued at $83,000 after purchasing an additional 122 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on RMD. Royal Bank of Canada raised their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group initiated coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating for the company. Finally, Piper Sandler raised their price target on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $244.73.

Insider Activity

In related news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction 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 sale, the chief executive officer now 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 legal filing with the SEC, which is available at this hyperlink. Also, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the sale, the insider now owns 21,718 shares in the company, valued at $5,279,428.62. This represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,307 shares of company stock worth $4,403,180. Insiders own 0.71% of the company’s stock.

ResMed Stock Performance

Shares of NYSE RMD opened at $232.93 on Monday. The company has a market capitalization of $34.21 billion, a P/E ratio of 27.50, a P/E/G ratio of 1.57 and a beta of 0.70. The stock has a 50 day moving average of $238.51 and a 200-day moving average of $238.68. 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 $170.56 and a 12 month high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating 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%. As a group, equities research analysts predict that ResMed Inc. will post 9.44 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. ResMed’s payout ratio is 25.03%.

About ResMed

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.