Axxcess Wealth Management LLC Decreases Holdings in ResMed Inc. (NYSE:RMD)

Axxcess Wealth Management LLC decreased its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 64.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,578 shares of the medical equipment provider's stock after selling 6,391 shares during the quarter. Axxcess Wealth Management LLC's holdings in ResMed were worth $801,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RMD. Global X Japan Co. Ltd. lifted its position in ResMed by 121.4% during the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after buying an additional 68 shares in the last quarter. Colonial Trust Co SC lifted its position in ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after buying an additional 125 shares in the last quarter. Optiver Holding B.V. purchased a new position in ResMed during the fourth quarter worth approximately $33,000. Golden State Wealth Management LLC lifted its position in ResMed by 384.8% during the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after buying an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. raised its position in ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $256.72, for a total transaction of $2,056,070.48. Following the completion of the transaction, the chief executive officer directly owned 455,503 shares of the company's stock, valued at $116,936,730.16. The trade was a 1.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Witte Jan De sold 2,000 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total value of $486,940.00. Following the transaction, the director directly owned 5,806 shares of the company's stock, valued at $1,413,586.82. The trade was a 25.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,013 shares of company stock valued at $7,238,913 in the last three months. 0.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RMD has been the topic of a number of research analyst reports. Piper Sandler reduced 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. UBS Group reduced their target price on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Mizuho set a $265.00 target price on ResMed in a research report on Wednesday, April 16th. 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. Finally, Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ResMed has a consensus rating of "Moderate Buy" and a consensus price target of $259.33.

ResMed Trading Down 1.5%

Shares of NYSE RMD traded down $3.92 during trading on Friday, reaching $254.15. The stock had a trading volume of 517,805 shares, compared to its average volume of 968,637. ResMed Inc. has a fifty-two week low of $196.43 and a fifty-two week high of $263.05. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.49 and a current ratio of 3.41. The business's 50-day moving average price is $250.36 and its 200-day moving average price is $236.72. The company has a market cap of $37.27 billion, a P/E ratio of 28.52, a PEG ratio of 1.62 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 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 during the quarter, compared to analysts' expectations of $1.28 billion. During the same period in the previous year, the firm posted $2.13 EPS. ResMed's revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.83%. ResMed's payout ratio is 23.79%.

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.