L. Roy Papp & Associates LLP Sells 165 Shares of ResMed Inc. (NYSE:RMD)

L. Roy Papp & Associates LLP reduced its stake in ResMed Inc. (NYSE:RMD) by 2.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,975 shares of the medical equipment provider’s stock after selling 165 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in ResMed were worth $1,824,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RMD. Peak Financial Advisors LLC purchased a new position in ResMed during the fourth quarter worth about $2,972,000. Principal Financial Group Inc. lifted its position in shares of ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after buying an additional 5,284 shares in the last quarter. Spire Wealth Management lifted its position in shares of ResMed by 11.3% during the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after buying an additional 1,100 shares in the last quarter. Retireful LLC purchased a new position in shares of ResMed in the 3rd quarter worth approximately $742,000. Finally, Asset Management One Co. Ltd. grew its holdings in shares of ResMed by 5.1% in the third quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock valued at $14,369,000 after acquiring an additional 2,878 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on RMD. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Piper Sandler lifted their target price on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their price target on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Stifel Nicolaus initiated coverage on shares of ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price objective for the company. Finally, Royal Bank of Canada increased their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $244.73.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Justin Leong sold 6,160 shares of the business’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 completion of the sale, the insider now owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,307 shares of company stock valued at $4,403,180 over the last three months. 0.71% of the stock is owned by corporate insiders.

ResMed Stock Performance

NYSE RMD opened at $237.45 on Wednesday. The company’s 50 day simple moving average is $239.06 and its two-hundred day simple moving average is $238.02. The stock has a market capitalization of $34.87 billion, a PE ratio of 28.03, a P/E/G ratio of 1.57 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Analysts predict that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 25.03%.

ResMed 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.