ResMed Inc. (NYSE:RMD) Holdings Boosted by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC boosted its holdings in ResMed Inc. (NYSE:RMD) by 116.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,743 shares of the medical equipment provider’s stock after acquiring an additional 4,702 shares during the period. Kestra Private Wealth Services LLC’s holdings in ResMed were worth $1,999,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in ResMed in the third quarter worth about $34,000. Rosenberg Matthew Hamilton bought a new position in ResMed in the fourth quarter worth about $54,000. Capital Performance Advisors LLP bought a new position in ResMed in the third quarter worth about $60,000. Finally, Venturi Wealth Management LLC lifted its holdings in ResMed by 55.7% in the third quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock worth $83,000 after acquiring an additional 122 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In other ResMed news, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the transaction, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,307 shares of company stock worth $4,403,180. 0.71% of the stock is owned by insiders.

ResMed Price Performance

NYSE RMD opened at $237.45 on Wednesday. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The firm 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’s 50 day simple moving average is $239.06 and its 200 day simple moving average is $238.02.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, equities research analysts forecast that ResMed Inc. will post 9.44 EPS for the current fiscal year.

ResMed Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RMD. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. The Goldman Sachs Group initiated coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Piper Sandler lifted their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Robert W. Baird lifted their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

ResMed Company 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.