Jacobi Capital Management LLC Buys New Stake in ResMed Inc. (NYSE:RMD)

Jacobi Capital Management LLC bought a new stake in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,124 shares of the medical equipment provider’s stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RMD. True Wealth Design LLC increased its stake in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares during the period. Ashton Thomas Securities LLC bought a new stake in ResMed in the third quarter valued at about $34,000. BankPlus Trust Department bought a new stake in ResMed in the fourth quarter valued at about $44,000. Rosenberg Matthew Hamilton bought a new stake in ResMed in the fourth quarter valued at about $54,000. Finally, Capital Performance Advisors LLP bought a new stake in ResMed in the third quarter valued at about $60,000. Institutional investors own 54.98% of the company’s stock.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares in the company, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $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 quarter, insiders sold 12,073 shares of company stock worth $2,887,326. 0.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RMD has been the topic of a number of recent analyst reports. Stifel Nicolaus initiated coverage on shares of ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 price target on the stock. KeyCorp boosted their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group initiated coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Finally, 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, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $244.73.

ResMed Trading Down 0.2 %

RMD stock opened at $233.12 on Tuesday. The company has a market cap of $34.24 billion, a P/E ratio of 27.52, a PEG ratio of 1.53 and a beta of 0.70. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05. 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 business has a fifty day moving average of $237.10 and a 200-day moving average of $239.99.

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

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.91%. ResMed’s dividend payout ratio is presently 25.03%.

ResMed Company 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.