Global Retirement Partners LLC Raises Stock Position in ResMed Inc. (NYSE:RMD)

Global Retirement Partners LLC grew its holdings in ResMed Inc. (NYSE:RMD) by 50.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 582 shares of the medical equipment provider’s stock after acquiring an additional 196 shares during the period. Global Retirement Partners LLC’s holdings in ResMed were worth $133,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC grew its holdings in ResMed by 2,200.0% during 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 in the last quarter. Ashton Thomas Securities LLC acquired a new stake in ResMed during the 3rd quarter valued at $34,000. Rosenberg Matthew Hamilton acquired a new stake in ResMed during the 4th quarter valued at $54,000. Capital Performance Advisors LLP acquired a new stake in ResMed during the 3rd quarter valued at $60,000. Finally, Kentucky Trust Co acquired a new stake in ResMed during the 4th quarter valued at $82,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 0.7 %

RMD opened at $234.46 on Thursday. 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 stock has a market capitalization of $34.43 billion, a PE ratio of 27.68, a PEG ratio of 1.53 and a beta of 0.70. ResMed Inc. has a 1-year low of $170.56 and a 1-year high of $263.05. The firm has a 50-day moving average price of $237.15 and a two-hundred day moving average price of $239.62.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, equities analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal 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 dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.90%. ResMed’s dividend payout ratio (DPR) is currently 25.03%.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares in the company, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,147 shares of company stock worth $2,905,745. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Piper Sandler lifted their price target on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, Stifel Nicolaus started coverage on shares of ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

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.