Maridea Wealth Management LLC Invests $481,000 in ResMed Inc. (NYSE:RMD)

Maridea Wealth Management LLC acquired a new stake in shares of ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,105 shares of the medical equipment provider’s stock, valued at approximately $481,000.

A number of other institutional investors also recently bought and sold shares of RMD. True Wealth Design LLC increased its position 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 buying an additional 110 shares in the last quarter. OFI Invest Asset Management purchased a new stake in ResMed in the 4th quarter worth approximately $39,000. BankPlus Trust Department bought a new stake in ResMed during the 4th quarter worth approximately $44,000. Rosenberg Matthew Hamilton bought a new stake in ResMed during the 4th quarter worth approximately $54,000. Finally, SBI Securities Co. Ltd. purchased a new position in ResMed during the fourth quarter valued at approximately $67,000. 54.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on RMD shares. The Goldman Sachs Group initiated coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Piper Sandler raised 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. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, KeyCorp boosted their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $249.73.

ResMed Trading Down 1.2 %

Shares of RMD opened at $219.85 on Friday. The stock has a market capitalization of $32.29 billion, a PE ratio of 25.96, a P/E/G ratio of 1.53 and a beta of 0.74. The company’s fifty day moving average is $233.70 and its 200 day moving average is $238.23. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping 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%. Sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 25.03%.

Insider Activity

In related news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by insiders.

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.