Cetera Investment Advisers Has $2.88 Million Stake in ResMed Inc. (NYSE:RMD)

Cetera Investment Advisers boosted its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 21.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,605 shares of the medical equipment provider's stock after purchasing an additional 2,259 shares during the period. Cetera Investment Advisers' holdings in ResMed were worth $2,883,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Optiver Holding B.V. acquired a new position in ResMed during the 4th quarter worth $33,000. Itau Unibanco Holding S.A. raised its position in shares of ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. OFI Invest Asset Management acquired a new position in ResMed in the fourth quarter valued at about $39,000. Coppell Advisory Solutions LLC increased its stake in shares of ResMed by 1,750.0% in 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 last quarter. Finally, BankPlus Trust Department acquired a new stake in shares of ResMed in the 4th quarter valued at approximately $44,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Performance

RMD stock traded down $2.49 during trading hours on Wednesday, reaching $245.65. The stock had a trading volume of 847,104 shares, compared to its average volume of 1,020,843. The stock has a 50-day simple moving average of $226.57 and a 200 day simple moving average of $234.27. ResMed Inc. has a fifty-two week low of $179.42 and a fifty-two week high of $263.05. The stock has a market capitalization of $36.02 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. The business had revenue of $1.29 billion during 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%. ResMed's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $2.13 earnings per share. Analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's payout ratio is presently 23.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. KeyCorp set a $274.00 target price on shares of ResMed in a research note on Thursday, April 24th. Piper Sandler dropped their price objective on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Mizuho set a $265.00 price target on ResMed in a research report on Wednesday, April 16th. Finally, StockNews.com upgraded ResMed from a "hold" rating to a "buy" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ResMed presently has a consensus rating of "Moderate Buy" and an average price target of $258.83.

Insiders Place Their Bets

In other news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction on 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 sale, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,289,265. This trade represents a 48.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 455,503 shares in the company, valued at approximately $110,791,994.69. This represents a 1.73% 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 ninety days. 0.71% of the stock is currently owned by company insiders.

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.