BankPlus Trust Department Acquires New Stake in ResMed Inc. (NYSE:RMD)

BankPlus Trust Department acquired a new stake in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 192 shares of the medical equipment provider’s stock, valued at approximately $44,000.

A number of other large investors have also made changes to their positions in the stock. Howard Capital Management Inc. lifted its position in ResMed by 5.3% during the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after buying an additional 45 shares during the period. Ascent Group LLC lifted its position in ResMed by 1.7% during the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after buying an additional 48 shares during the period. SkyView Investment Advisors LLC lifted its position in ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after buying an additional 51 shares during the period. Wedmont Private Capital lifted its position in ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after buying an additional 52 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its position in ResMed by 3.1% during the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the sale, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on 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 owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,147 shares of company stock worth $2,905,745 in the last 90 days. 0.71% of the stock is owned by corporate insiders.

ResMed Stock Performance

Shares of NYSE:RMD opened at $235.73 on Wednesday. The company has a market cap of $34.62 billion, a P/E ratio of 27.83, a PEG ratio of 1.53 and a beta of 0.70. 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 one year low of $170.56 and a one year high of $263.05. The business’s 50-day simple moving average is $237.06 and its 200 day simple moving average is $239.66.

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

ResMed Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on RMD shares. Stifel Nicolaus started coverage on ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 target price on the stock. KeyCorp increased their target price on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, Piper Sandler raised their price objective on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus 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.