SteelPeak Wealth LLC Acquires New Shares in ResMed Inc. (NYSE:RMD)

SteelPeak Wealth LLC bought a new position in shares of ResMed Inc. (NYSE:RMD) during the 4th quarter, HoldingsChannel reports. The firm bought 893 shares of the medical equipment provider’s stock, valued at approximately $204,000.

A number of other large investors have also recently made changes to their positions in RMD. True Wealth Design LLC boosted its stake in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 110 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of ResMed in the third quarter worth about $34,000. Rosenberg Matthew Hamilton bought a new position in shares of ResMed in the fourth quarter valued at approximately $54,000. Capital Performance Advisors LLP purchased a new position in ResMed during the third quarter valued at approximately $60,000. Finally, Quarry LP increased its holdings in ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 242 shares during the period. 54.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Piper Sandler boosted their price target on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday. The Goldman Sachs Group initiated coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. Royal Bank of Canada raised their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Stifel Nicolaus began coverage on ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price objective for the company. Finally, StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $244.73.

Insiders Place Their Bets

In other news, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the sale, the insider now owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,030 shares of company stock worth $2,702,687. 0.71% of the stock is currently owned by company insiders.

ResMed Stock Down 8.1 %

Shares of ResMed stock opened at $236.66 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a 52-week low of $170.56 and a 52-week high of $263.05. The company’s 50 day moving average price is $240.32 and its 200-day moving average price is $235.99. The stock has a market capitalization of $34.74 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 1.83 and a beta of 0.70.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 23.15% and a return on equity of 25.53%. Equities research analysts forecast that ResMed Inc. will post 9.35 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio is 28.08%.

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.