Kingswood Wealth Advisors LLC bought a new stake in ResMed Inc. (NYSE:RMD – Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,030 shares of the medical equipment provider’s stock, valued at approximately $236,000.

Several other large investors have also recently added to or reduced their stakes in RMD. UMB Bank n.a. grew its stake in shares of ResMed by 1.9% during the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after buying an additional 47 shares during the period. Ascent Group LLC increased its position in ResMed by 1.7% during the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 48 shares in the last quarter. SkyView Investment Advisors LLC raised its holdings in ResMed by 2.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after buying an additional 51 shares during the period. Wedmont Private Capital grew its stake in ResMed by 2.6% during the fourth 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 period. Finally, Concurrent Investment Advisors LLC increased its position in shares of ResMed by 3.1% in the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after acquiring an additional 57 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RMD. KeyCorp upped their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday. The Goldman Sachs Group initiated coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating for the company. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday. Stifel Nicolaus initiated coverage on shares of ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective for the company. Finally, Piper Sandler upped their target price on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

Check Out Our Latest Analysis on RMD

ResMed Stock Performance

Shares of RMD stock opened at $236.66 on Friday. The stock has a market capitalization of $34.74 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.83 and a beta of 0.70. ResMed Inc. has a one year low of $170.56 and a one year high of $263.05. The company’s 50-day simple moving average is $240.17 and its 200-day simple moving average is $236.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

ResMed (NYSE:RMD – Get Free Report) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 25.53% and a net margin of 23.15%. Equities analysts anticipate that ResMed Inc. will post 9.35 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.90%. ResMed’s payout ratio is 25.03%.

Insiders Place Their Bets

In related news, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total value of $497,480.00. Following the transaction, the director now owns 83,204 shares of the company’s stock, valued at approximately $20,696,162.96. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,030 shares of company stock valued at $2,702,687. Company insiders own 0.71% of the company’s stock.

About ResMed

(Free Report)

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.

Further Reading

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