6,778 Shares in ResMed Inc. (NYSE:RMD) Bought by Callan Family Office LLC

Callan Family Office LLC bought a new stake in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,778 shares of the medical equipment provider’s stock, valued at approximately $1,550,000.

Several other institutional investors have also recently bought and sold shares of RMD. First Horizon Advisors Inc. boosted its stake in shares of ResMed by 285.1% in the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after purchasing an additional 439 shares in the last quarter. Peak Financial Advisors LLC acquired a new stake in ResMed in the fourth quarter valued at approximately $2,972,000. Principal Financial Group Inc. grew its stake in shares of ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after buying an additional 5,284 shares during the last quarter. Spire Wealth Management increased its holdings in shares of ResMed by 11.3% during the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after buying an additional 1,100 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in shares of ResMed by 2.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock valued at $14,105,000 after acquiring an additional 1,629 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 8,009 shares of the company’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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the transaction, the director now owns 75,218 shares in the company, valued at approximately $17,127,890.78. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,186 shares of company stock valued at $4,996,646 over the last ninety days. 0.71% of the stock is owned by corporate insiders.

ResMed Stock Performance

RMD stock opened at $232.40 on Friday. The firm has a market cap of $34.13 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $236.70 and a 200-day moving average price of $239.81. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (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%. As a group, equities research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid 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 dividend payout ratio is presently 25.03%.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of recent research reports. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday. The Goldman Sachs Group initiated coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating for the company. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. KeyCorp raised their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $243.82.

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.