Corient Private Wealth LLC Has $18.98 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

Corient Private Wealth LLC decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,984 shares of the medical equipment provider’s stock after selling 2,974 shares during the quarter. Corient Private Wealth LLC owned approximately 0.06% of ResMed worth $18,978,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in shares of 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 buying an additional 110 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of ResMed during the fourth quarter worth $39,000. BankPlus Trust Department acquired a new stake in shares of ResMed during the fourth quarter worth $44,000. Rosenberg Matthew Hamilton acquired a new stake in shares of ResMed during the fourth quarter worth $54,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of ResMed during the fourth quarter worth $67,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

ResMed stock opened at $220.07 on Wednesday. The business’s 50-day moving average price is $235.76 and its two-hundred day moving average price is $239.49. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05. The stock has a market cap of $32.32 billion, a PE ratio of 25.98, a P/E/G ratio of 1.53 and a beta of 0.74. 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 (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates 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, analysts expect 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. Stockholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio is 25.03%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RMD. KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the stock an “overweight” 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 on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. raised their price target on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group began coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. Finally, UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $243.82.

Insider Activity

In related news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $229.20, for a total value of $1,835,662.80. Following the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $104,394,182.40. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the transaction, the insider now directly owns 9,725 shares in the company, valued at approximately $2,289,265. This represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is currently owned by corporate insiders.

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.