Gulf International Bank UK Ltd Sells 119 Shares of ResMed Inc. (NYSE:RMD)

Gulf International Bank UK Ltd lowered its position in shares of ResMed Inc. (NYSE:RMD) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,496 shares of the medical equipment provider’s stock after selling 119 shares during the period. Gulf International Bank UK Ltd’s holdings in ResMed were worth $2,629,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in shares of ResMed by 285.1% during the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock worth $136,000 after purchasing an additional 439 shares during the period. Peak Financial Advisors LLC bought a new position in ResMed during the 4th quarter worth $2,972,000. Principal Financial Group Inc. increased its stake in ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after acquiring an additional 5,284 shares during the period. Spire Wealth Management increased its stake in ResMed by 11.3% during the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after acquiring an additional 1,100 shares during the period. Finally, Retireful LLC bought a new position in ResMed during the 3rd quarter worth $742,000. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Piper Sandler raised their price objective on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Stifel Nicolaus assumed coverage on ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price objective on the stock. KeyCorp raised their price objective on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now directly owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated 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 transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,147 shares of company stock valued at $2,905,745. 0.71% of the stock is currently owned by company insiders.

ResMed Trading Up 0.9 %

NYSE RMD opened at $233.32 on Friday. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $263.05. The company has a market cap of $34.27 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. The business’s fifty day moving average is $237.06 and its 200 day moving average is $239.69.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share 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%. As a group, sell-side analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio is presently 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.