ResMed Inc. (NYSE:RMD) Stock Position Increased by Dakota Wealth Management

Dakota Wealth Management raised its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 21.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,189 shares of the medical equipment provider's stock after purchasing an additional 2,709 shares during the period. Dakota Wealth Management's holdings in ResMed were worth $3,400,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new stake in shares of ResMed in the fourth quarter worth about $220,000. Raymond James Financial Inc. purchased a new position in ResMed in the 4th quarter worth approximately $9,558,000. Independent Advisor Alliance purchased a new position in ResMed in the 4th quarter worth approximately $231,000. Sequoia Financial Advisors LLC raised its holdings in ResMed by 20.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,502 shares of the medical equipment provider's stock worth $572,000 after acquiring an additional 429 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in ResMed by 34.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 13,239 shares of the medical equipment provider's stock worth $3,028,000 after acquiring an additional 3,417 shares during the last quarter. 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 company's stock in a transaction that occurred on Monday, July 7th. The shares were 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 owned 455,503 shares of the company's stock, valued at approximately $116,936,730.16. This represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Witte Jan De sold 2,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,013 shares of company stock valued at $7,238,913. Insiders own 0.71% of the company's stock.

ResMed Stock Performance

Shares of NYSE:RMD traded up $1.99 during midday trading on Wednesday, hitting $254.00. The stock had a trading volume of 829,576 shares, compared to its average volume of 968,215. The company has a market capitalization of $37.24 billion, a PE ratio of 28.51, a P/E/G ratio of 1.58 and a beta of 0.77. The stock has a 50 day moving average price of $251.02 and a two-hundred day moving average price of $237.14. The company has a current ratio of 3.41, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12. ResMed Inc. has a 1 year low of $196.43 and a 1 year high of $263.05.

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

ResMed Dividend Announcement

The company also recently disclosed 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. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Thursday, May 8th. ResMed's payout ratio is 23.79%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RMD. Morgan Stanley set a $286.00 price objective on shares of ResMed and gave the company an "overweight" rating in a research report on Tuesday, May 20th. KeyCorp set a $274.00 target price on shares of ResMed in a research report on Thursday, April 24th. Mizuho increased their price objective on shares of ResMed from $250.00 to $270.00 and gave the stock an "outperform" rating in a research report on Wednesday. Royal Bank Of Canada raised shares of ResMed from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $255.00 to $294.00 in a research report on Tuesday. Finally, Piper Sandler reduced their target price on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $263.00.

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.