Dakota Wealth Management Raises Stake in ResMed Inc. $RMD

Dakota Wealth Management grew its position in ResMed Inc. (NYSE:RMD) by 44.5% in the third quarter, HoldingsChannel.com reports. The firm owned 26,297 shares of the medical equipment provider’s stock after acquiring an additional 8,094 shares during the period. Dakota Wealth Management’s holdings in ResMed were worth $7,198,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortis Capital Management LLC lifted its stake in shares of ResMed by 6.0% during the 3rd quarter. Fortis Capital Management LLC now owns 25,941 shares of the medical equipment provider’s stock valued at $7,101,000 after buying an additional 1,476 shares in the last quarter. Clearstead Advisors LLC raised its holdings in ResMed by 14.9% during the third quarter. Clearstead Advisors LLC now owns 742 shares of the medical equipment provider’s stock valued at $203,000 after acquiring an additional 96 shares during the period. Semanteon Capital Management LP purchased a new position in shares of ResMed in the third quarter valued at about $561,000. Tredje AP fonden lifted its position in shares of ResMed by 28.2% in the third quarter. Tredje AP fonden now owns 14,701 shares of the medical equipment provider’s stock valued at $4,024,000 after acquiring an additional 3,237 shares in the last quarter. Finally, Stevens Capital Management LP bought a new position in shares of ResMed in the third quarter worth about $205,000. 54.98% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Michael J. Farrell sold 4,991 shares of the firm’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 value 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 trade represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the business’s 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 transaction, the director directly owned 64,773 shares in the company, valued at approximately $16,278,102.63. This represents a 3.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 16,082 shares of company stock worth $4,134,807. Company insiders own 0.65% of the company’s stock.

ResMed Price Performance

ResMed stock opened at $251.72 on Wednesday. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average is $253.40 and its 200 day moving average is $261.50. The company has a market cap of $36.67 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 1.73 and a beta of 0.87.

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

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders 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 yield of 1.0%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s payout ratio is presently 23.74%.

Wall Street Analyst Weigh In

RMD has been the topic of several recent analyst reports. KeyCorp reissued an “overweight” rating and set a $302.00 target price on shares of ResMed in a research note on Friday, January 30th. Stifel Nicolaus lifted their price objective on shares of ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Weiss Ratings raised shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Royal Bank Of Canada raised their target price on shares of ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Finally, Morgan Stanley set a $305.00 price target on shares of ResMed in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus target price of $299.27.

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.