ResMed Inc. $RMD Stock Holdings Trimmed by Apriem Advisors

Apriem Advisors lessened its position in shares of ResMed Inc. (NYSE:RMD) by 8.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 31,152 shares of the medical equipment provider’s stock after selling 2,891 shares during the quarter. Apriem Advisors’ holdings in ResMed were worth $8,527,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Entropy Technologies LP lifted its holdings in ResMed by 188.7% in the second quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock worth $4,227,000 after acquiring an additional 10,708 shares during the last quarter. Quantbot Technologies LP increased its position in ResMed by 244.8% in the second quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock worth $9,380,000 after buying an additional 25,810 shares during the period. Nordea Investment Management AB lifted its stake in ResMed by 3.5% in the third quarter. Nordea Investment Management AB now owns 790,872 shares of the medical equipment provider’s stock valued at $217,387,000 after buying an additional 26,629 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of ResMed by 44.8% during the third quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock worth $97,837,000 after acquiring an additional 110,647 shares during the last quarter. Finally, Swedbank AB increased its holdings in shares of ResMed by 25.4% in the 3rd quarter. Swedbank AB now owns 542,711 shares of the medical equipment provider’s stock worth $148,556,000 after acquiring an additional 109,760 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Trading Up 0.7%

ResMed stock opened at $260.97 on Tuesday. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The firm has a market capitalization of $38.02 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 1.72 and a beta of 0.87. The company has a 50 day moving average price of $253.32 and a 200 day moving average price of $261.72.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the business earned $2.43 EPS. The company’s revenue was up 11.0% on a year-over-year basis. Research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be issued 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 is Thursday, February 12th. ResMed’s payout ratio is currently 23.74%.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total value of $502,620.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $127,642,532.94. This represents a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,082 shares of company stock valued at $4,134,807 over the last ninety days. Company insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on RMD. Weiss Ratings upgraded ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Wall Street Zen raised ResMed from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Stifel Nicolaus raised their target price on shares of ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Piper Sandler boosted their price objective on ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Finally, Wells Fargo & Company upped their price objective on ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. One investment 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 MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $299.27.

About ResMed

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.