Empirical Finance LLC Sells 48 Shares of ResMed Inc. (NYSE:RMD)

Empirical Finance LLC trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 1.0% during the fourth quarter, HoldingsChannel reports. The firm owned 4,961 shares of the medical equipment provider’s stock after selling 48 shares during the quarter. Empirical Finance LLC’s holdings in ResMed were worth $1,135,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RMD. True Wealth Design LLC lifted its holdings in ResMed by 2,200.0% during 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 in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of ResMed in the 3rd quarter valued at approximately $34,000. Rosenberg Matthew Hamilton acquired a new position in shares of ResMed in the 4th quarter valued at approximately $54,000. Capital Performance Advisors LLP bought a new stake in ResMed during the 3rd quarter worth approximately $60,000. Finally, Venturi Wealth Management LLC raised its holdings in ResMed by 55.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock worth $83,000 after buying an additional 122 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RMD. KeyCorp increased their price objective on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada upped their price target on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, Piper Sandler lifted their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $244.73.

Insider Buying and Selling at ResMed

In related news, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction 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 approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the transaction, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,298 shares of company stock worth $2,506,889 over the last ninety days. Insiders own 0.71% of the company’s stock.

ResMed Stock Up 0.7 %

Shares of RMD stock opened at $238.56 on Tuesday. ResMed Inc. has a 52-week low of $170.56 and a 52-week high of $263.05. The stock has a market cap of $35.04 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.57 and a beta of 0.70. The firm’s 50-day moving average is $239.18 and its 200-day moving average is $237.81. 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 (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Sell-side analysts predict that ResMed Inc. will post 9.44 EPS for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. 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.