Ieq Capital LLC Grows Stock Position in ResMed Inc. (NYSE:RMD)

Ieq Capital LLC boosted its holdings in ResMed Inc. (NYSE:RMD) by 184.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,693 shares of the medical equipment provider’s stock after acquiring an additional 25,730 shares during the period. Ieq Capital LLC’s holdings in ResMed were worth $9,077,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its stake in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in ResMed in the 3rd quarter valued at about $34,000. Rosenberg Matthew Hamilton acquired a new position in ResMed in the fourth quarter valued at about $54,000. Capital Performance Advisors LLP purchased a new position in ResMed during the third quarter worth about $60,000. Finally, Kentucky Trust Co acquired a new stake in shares of ResMed during the fourth quarter valued at about $82,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the 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 $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the business’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 sale, the chief executive officer now 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. Insiders sold 12,147 shares of company stock valued at $2,905,745 in the last ninety days. Insiders own 0.71% of the company’s stock.

ResMed Stock Performance

Shares of ResMed stock opened at $232.89 on Friday. The business has a 50-day simple moving average of $237.76 and a 200-day simple moving average of $239.01. The company has a market cap of $34.20 billion, a PE ratio of 27.50, a P/E/G ratio of 1.52 and a beta of 0.70. ResMed Inc. has a one year low of $170.56 and a one year high of $263.05. 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 announced 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%. On average, equities research analysts forecast that ResMed Inc. will post 9.44 EPS for the current fiscal year.

ResMed Announces Dividend

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 paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RMD shares. KeyCorp upped their price objective on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Robert W. Baird upped their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Stifel Nicolaus initiated coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective for the company. Piper Sandler boosted their price objective on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.