Harel Insurance Investments & Financial Services Ltd. Decreases Stock Holdings in ResMed Inc. $RMD

Key Points

• Harel Insurance cut its stake in ResMed by 26.8% in Q4, selling 7,916 shares and retaining 21,639 shares valued at about $5.21 million.
• ResMed beat quarterly estimates, reporting EPS of $2.86 vs. $2.79 consensus and revenue of $1.43 billion (up 10.8% year-over-year).
• The company declared a quarterly dividend of $0.60 (annualized $2.40) with an ex-dividend date of May 14, implying a yield of about 1.2%.

Harel Insurance Investments & Financial Services Ltd. reduced its position in ResMed Inc. (NYSE:RMD - Free Report) by 26.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,639 shares of the medical equipment provider's stock after selling 7,916 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in ResMed were worth $5,211,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of RMD. ORG Partners LLC boosted its holdings in shares of ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider's stock valued at $26,000 after buying an additional 69 shares in the last quarter. Imprint Wealth LLC bought a new stake in shares of ResMed in the 3rd quarter valued at about $26,000. WFA of San Diego LLC bought a new stake in shares of ResMed in the 2nd quarter valued at about $26,000. Sunbelt Securities Inc. bought a new stake in shares of ResMed in the 3rd quarter valued at about $31,000. Finally, Westside Investment Management Inc. boosted its holdings in shares of ResMed by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider's stock valued at $36,000 after buying an additional 66 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Price Performance

Shares of NYSE RMD opened at $207.92 on Wednesday. The business's 50 day moving average price is $232.33 and its 200 day moving average price is $245.90. The firm has a market cap of $30.29 billion, a P/E ratio of 20.05, a P/E/G ratio of 1.33 and a beta of 0.84. ResMed Inc. has a 52 week low of $198.64 and a 52 week high of $293.81. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the company posted $2.37 earnings per share. ResMed's revenue for the quarter was up 10.8% on a year-over-year basis. On average, sell-side analysts expect that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, May 14th. ResMed's payout ratio is currently 23.14%.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 4,991 shares of the business's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $273.78, for a total value of $1,366,435.98. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $127,642,532.94. The trade was a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 18,973 shares of company stock valued at $4,715,237. Company insiders own 0.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings cut shares of ResMed from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, March 19th. Piper Sandler upped their price objective on shares of ResMed from $270.00 to $275.00 and gave the company a "neutral" rating in a report on Friday, January 30th. Royal Bank Of Canada upped their price objective on shares of ResMed from $314.00 to $321.00 and gave the company an "outperform" rating in a report on Friday, May 1st. Stifel Nicolaus upped their price objective on shares of ResMed from $260.00 to $265.00 and gave the company a "hold" rating in a report on Friday, January 30th. Finally, Evercore set a $255.00 price objective on shares of ResMed and gave the company an "outperform" rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $286.18.

About ResMed

ResMed NYSE: RMD is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed's product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.