Dana Investment Advisors Inc. Sells 4,272 Shares of ResMed Inc. $RMD

Dana Investment Advisors Inc. decreased its stake in ResMed Inc. (NYSE:RMD) by 13.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 26,724 shares of the medical equipment provider’s stock after selling 4,272 shares during the period. Dana Investment Advisors Inc.’s holdings in ResMed were worth $7,315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dakota Wealth Management increased its stake in shares of ResMed by 44.5% in the 3rd quarter. Dakota Wealth Management now owns 26,297 shares of the medical equipment provider’s stock valued at $7,198,000 after acquiring an additional 8,094 shares during the last quarter. Fortis Capital Management LLC increased its stake in ResMed by 6.0% in the third quarter. Fortis Capital Management LLC now owns 25,941 shares of the medical equipment provider’s stock valued at $7,101,000 after purchasing an additional 1,476 shares in the last quarter. Clearstead Advisors LLC raised its holdings in ResMed by 14.9% in the third quarter. Clearstead Advisors LLC now owns 742 shares of the medical equipment provider’s stock worth $203,000 after purchasing an additional 96 shares during the period. Semanteon Capital Management LP acquired a new stake in ResMed in the third quarter worth $561,000. Finally, Tredje AP fonden boosted its position in shares of ResMed by 28.2% during the third quarter. Tredje AP fonden now owns 14,701 shares of the medical equipment provider’s stock worth $4,024,000 after purchasing an additional 3,237 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

RMD stock opened at $260.97 on Tuesday. The stock has a 50-day moving average price of $253.32 and a two-hundred day moving average price of $261.72. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The stock has a market cap of $38.02 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the firm earned $2.43 earnings per share. ResMed’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is currently 23.74%.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Royal Bank Of Canada boosted their target price on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Robert W. Baird set a $281.00 price target on ResMed in a report on Friday, January 30th. Piper Sandler raised their price target on ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Finally, Wells Fargo & Company boosted their price objective on ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $299.27.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $273.78, for a total value of $1,366,435.98. Following the completion of the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $127,642,532.94. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total transaction of $502,620.00. Following the completion of the sale, the director owned 64,773 shares in the company, valued at $16,278,102.63. The trade was a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 16,082 shares of company stock worth $4,134,807 over the last quarter. 0.65% of the stock is owned by corporate insiders.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.