Quadcap Wealth Management LLC Takes Position in ResMed Inc. (NYSE:RMD)

Quadcap Wealth Management LLC purchased a new position in ResMed Inc. (NYSE:RMD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,775 shares of the medical equipment provider's stock, valued at approximately $406,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Colonial Trust Co SC grew its holdings in shares of ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after buying an additional 125 shares during the last quarter. Optiver Holding B.V. bought a new position in shares of ResMed during the fourth quarter valued at $33,000. Itau Unibanco Holding S.A. increased its holdings in ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after buying an additional 150 shares in the last quarter. OFI Invest Asset Management purchased a new position in ResMed in the 4th quarter worth about $39,000. Finally, Coppell Advisory Solutions LLC lifted its stake in ResMed by 1,750.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock valued at $42,000 after acquiring an additional 175 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Morgan Stanley assumed coverage on ResMed in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price target on the stock. StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a research note on Friday, May 2nd. Piper Sandler cut their price target on ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Finally, Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $258.83.

ResMed Price Performance

RMD stock traded down $5.19 during trading on Tuesday, hitting $248.16. 1,431,462 shares of the company's stock traded hands, compared to its average volume of 1,021,538. The business has a fifty day simple moving average of $226.00 and a 200 day simple moving average of $234.17. ResMed Inc. has a 52 week low of $179.42 and a 52 week high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock has a market capitalization of $36.39 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.01. The company had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.13 earnings per share. As a group, research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is currently 23.79%.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total transaction of $455,420.00. Following the completion of the sale, the director now directly owns 75,218 shares in the company, valued at approximately $17,127,890.78. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the transaction, the insider now owns 9,725 shares in the company, valued at $2,289,265. This represents a 48.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,949 shares of company stock valued at $11,335,320 over the last 90 days. Insiders own 0.71% of the company's stock.

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.