Smartleaf Asset Management LLC Has $270,000 Position in ResMed Inc. (NYSE:RMD)

Smartleaf Asset Management LLC boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 36.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,176 shares of the medical equipment provider’s stock after acquiring an additional 312 shares during the quarter. Smartleaf Asset Management LLC’s holdings in ResMed were worth $270,000 as of its most recent SEC filing.

Several other large investors 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 ResMed during the third quarter worth $34,000. BankPlus Trust Department bought a new stake in ResMed in the fourth quarter valued at approximately $44,000. Rosenberg Matthew Hamilton bought a new position in shares of ResMed in the fourth quarter valued at about $54,000. Finally, Capital Performance Advisors LLP acquired a new stake in ResMed during the 3rd quarter worth approximately $60,000. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 3.3 %

NYSE RMD opened at $223.76 on Thursday. The stock’s 50-day moving average price is $236.90 and its 200-day moving average price is $239.90. 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 $32.86 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping 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, equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

Insider Transactions at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,186 shares of company stock valued at $4,541,226. 0.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. KeyCorp boosted their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus reduced their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.82.

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.