ResMed Inc. (NYSE:RMD) Shares Sold by Inspire Advisors LLC

Inspire Advisors LLC decreased its stake in shares of ResMed Inc. (NYSE:RMD) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,548 shares of the medical equipment provider’s stock after selling 206 shares during the period. Inspire Advisors LLC’s holdings in ResMed were worth $583,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of RMD. Geode Capital Management LLC increased its holdings in shares of ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after buying an additional 380,383 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock worth $152,973,000 after acquiring an additional 250,746 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of ResMed by 726.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after purchasing an additional 249,454 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of ResMed in the 4th quarter valued at about $50,364,000. Finally, Nordea Investment Management AB grew its holdings in shares of ResMed by 92.7% during the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after purchasing an additional 215,561 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed 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 completion of the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $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. Insiders have sold 38,940 shares of company stock worth $9,164,385 over the last ninety days. 0.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Piper Sandler raised their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Stifel Nicolaus decreased their price target on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $243.82.

ResMed Price Performance

Shares of RMD stock opened at $225.47 on Wednesday. The firm has a fifty day moving average of $236.80 and a two-hundred day moving average of $240.13. The firm has a market cap of $33.11 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD) last announced 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, research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio is currently 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.