ResMed Inc. (NYSE:RMD) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC increased its position in shares of ResMed Inc. (NYSE:RMD) by 59.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 545 shares of the medical equipment provider’s stock after acquiring an additional 204 shares during the quarter. Venturi Wealth Management LLC’s holdings in ResMed were worth $125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Truist Financial Corp raised its holdings in ResMed by 64.1% in the 4th quarter. Truist Financial Corp now owns 8,747 shares of the medical equipment provider’s stock valued at $2,000,000 after buying an additional 3,418 shares during the period. CIBC Asset Management Inc raised its holdings in ResMed by 4.5% in the 4th quarter. CIBC Asset Management Inc now owns 22,671 shares of the medical equipment provider’s stock valued at $5,185,000 after buying an additional 984 shares during the period. Pittenger & Anderson Inc. raised its holdings in ResMed by 7.2% in the 4th quarter. Pittenger & Anderson Inc. now owns 62,537 shares of the medical equipment provider’s stock valued at $14,302,000 after buying an additional 4,213 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in ResMed in the 4th quarter valued at about $83,000. Finally, Manchester Capital Management LLC raised its holdings in ResMed by 41.7% in the 4th quarter. Manchester Capital Management LLC now owns 717 shares of the medical equipment provider’s stock valued at $164,000 after buying an additional 211 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,147 shares of company stock valued at $2,905,745. 0.71% of the stock is currently owned by company insiders.

ResMed Stock Performance

Shares of RMD opened at $231.61 on Friday. The stock has a 50 day moving average price of $237.43 and a 200 day moving average price of $239.07. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $34.02 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. ResMed Inc. has a 52-week low of $170.56 and a 52-week high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings results 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%. Research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

Analysts Set New Price Targets

RMD has been the topic of a number of recent research reports. KeyCorp boosted their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Piper Sandler boosted their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Stifel Nicolaus initiated coverage on shares of ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price target on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

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.