Howard Capital Management Inc. Acquires 45 Shares of ResMed Inc. (NYSE:RMD)

Howard Capital Management Inc. lifted its holdings in ResMed Inc. (NYSE:RMD) by 5.3% in the fourth quarter, Holdings Channel reports. The fund owned 900 shares of the medical equipment provider’s stock after purchasing an additional 45 shares during the quarter. Howard Capital Management Inc.’s holdings in ResMed were worth $206,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Peak Financial Advisors LLC bought a new position in shares of ResMed in the 4th quarter valued at about $2,972,000. Principal Financial Group Inc. lifted its stake in ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after purchasing an additional 5,284 shares during the last quarter. Spire Wealth Management lifted its stake in ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after purchasing an additional 1,100 shares during the last quarter. Retireful LLC bought a new stake in ResMed in the third quarter worth about $742,000. Finally, Asset Management One Co. Ltd. lifted its stake in ResMed by 2.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock worth $14,105,000 after purchasing an additional 1,629 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $235.73 on Wednesday. The firm has a market cap of $34.62 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 1.53 and a beta of 0.70. The company’s 50 day moving average is $237.06 and its 200 day moving average is $239.66. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 52-week low of $170.56 and a 52-week high of $263.05.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, sell-side analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, February 13th. ResMed’s payout ratio is 25.03%.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the transaction, the director now directly owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction 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 in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,147 shares of company stock valued at $2,905,745 over the last ninety days. 0.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RMD. The Goldman Sachs Group began coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating for the company. Stifel Nicolaus began coverage on shares of ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective for the company. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Finally, Piper Sandler lifted their price target on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. One investment 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. Based on data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average target price of $244.73.

About ResMed

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.