4,544 Shares in ResMed Inc. (NYSE:RMD) Bought by Consolidated Planning Corp

Consolidated Planning Corp acquired a new position in ResMed Inc. (NYSE:RMD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,544 shares of the medical equipment provider's stock, valued at approximately $1,017,000.

Several other large investors also recently modified their holdings of RMD. GAMMA Investing LLC grew its holdings in shares of ResMed by 23,982.6% in the first quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider's stock worth $164,207,000 after acquiring an additional 730,510 shares during the period. Invesco Ltd. grew its holdings in shares of ResMed by 32.2% in the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock worth $531,706,000 after acquiring an additional 566,046 shares during the period. Norges Bank bought a new stake in shares of ResMed in the fourth quarter worth $118,605,000. Captrust Financial Advisors grew its holdings in shares of ResMed by 813.4% in the fourth quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider's stock worth $101,387,000 after acquiring an additional 394,803 shares during the period. Finally, AQR Capital Management LLC lifted its position in ResMed by 133.6% during the fourth quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider's stock valued at $142,944,000 after purchasing an additional 357,466 shares in the last quarter. Institutional investors own 54.98% of the company's stock.

ResMed Trading Up 1.1%

Shares of RMD stock opened at $253.65 on Monday. ResMed Inc. has a 12-month low of $179.42 and a 12-month high of $263.05. The company has a current ratio of 3.41, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12. The stock's 50-day moving average price is $240.71 and its 200-day moving average price is $234.85. The stock has a market capitalization of $37.19 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 1.75 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the previous year, the firm posted $2.13 earnings per share. The business's revenue was up 7.9% compared to the same quarter last year. Equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were issued a $0.53 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.84%. ResMed's dividend payout ratio (DPR) is 23.79%.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $243.23, for a total transaction of $1,948,029.07. Following the sale, the chief executive officer now directly owns 455,503 shares of the company's stock, valued at $110,791,994.69. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $219.74, for a total value of $439,480.00. Following the sale, the director now directly owns 73,218 shares in the company, valued at $16,088,923.32. The trade was a 2.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,132 shares of company stock valued at $7,075,837. 0.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RMD shares. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. KeyCorp set a $274.00 target price on ResMed in a research report on Thursday, April 24th. Morgan Stanley set a $286.00 target price on ResMed and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Piper Sandler lowered their target price on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada lifted their target price on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, ResMed currently has a consensus rating of "Moderate Buy" and a consensus target price of $259.33.

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.

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