ResMed Inc. (NYSE:RMD) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its stake in shares of ResMed Inc. (NYSE:RMD) by 20.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,502 shares of the medical equipment provider’s stock after purchasing an additional 429 shares during the period. Sequoia Financial Advisors LLC’s holdings in ResMed were worth $572,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of RMD. True Wealth Design LLC increased its holdings in shares of ResMed by 2,200.0% during the 3rd 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 during the last quarter. OFI Invest Asset Management acquired a new stake in ResMed during the fourth quarter worth about $39,000. BankPlus Trust Department acquired a new stake in ResMed during the fourth quarter worth about $44,000. Rosenberg Matthew Hamilton acquired a new position in shares of ResMed in the 4th quarter valued at about $54,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of ResMed during the 4th quarter worth about $67,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Saturday. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Stifel Nicolaus lowered 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. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, Piper Sandler increased their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.82.

Insider Activity

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 455,472 shares in the company, 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. In the last ninety days, insiders sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is currently owned by insiders.

ResMed Stock Up 0.1 %

Shares of NYSE:RMD opened at $224.46 on Tuesday. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05. 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 firm has a market cap of $32.97 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company has a fifty day simple moving average of $236.09 and a 200 day simple moving average of $239.66.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

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