JT Stratford LLC Has $2.39 Million Holdings in ResMed Inc. (NYSE:RMD)

JT Stratford LLC increased its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 75.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 10,447 shares of the medical equipment provider's stock after acquiring an additional 4,491 shares during the period. JT Stratford LLC's holdings in ResMed were worth $2,389,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RMD. Vanguard Group Inc. raised its position in shares of ResMed by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock valued at $4,156,089,000 after purchasing an additional 160,590 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ResMed by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock valued at $899,860,000 after purchasing an additional 85,270 shares in the last quarter. Invesco Ltd. raised its position in shares of ResMed by 32.2% in the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after purchasing an additional 566,046 shares in the last quarter. Northern Trust Corp raised its position in shares of ResMed by 20.6% in the 4th quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider's stock valued at $389,365,000 after purchasing an additional 290,664 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ResMed by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider's stock valued at $218,861,000 after acquiring an additional 32,973 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Trading Up 1.7%

Shares of NYSE RMD traded up $4.05 during mid-day trading on Tuesday, hitting $246.89. 166,645 shares of the company traded hands, compared to its average volume of 1,020,110. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05. The stock has a market capitalization of $36.20 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.53 and a beta of 0.78. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average of $228.30 and a two-hundred day moving average of $234.10.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.13 EPS. On average, sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

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

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the transaction, the insider now directly owns 9,725 shares of the company's stock, valued at $2,289,265. This represents a 48.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the transaction, the director now directly owns 75,218 shares in the company, valued at approximately $17,127,890.78. The trade was a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,949 shares of company stock valued at $11,822,260. Corporate insiders own 0.71% of the company's stock.

Analyst Ratings Changes

RMD has been the subject of a number of recent research reports. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research note on Friday, January 31st. Morgan Stanley set a $286.00 price target on ResMed and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Mizuho set a $265.00 price target on ResMed in a research note on Wednesday, April 16th. Piper Sandler decreased their price target on ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, Royal Bank of Canada increased their price target on ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 24th. One 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 stock. According to data from MarketBeat, ResMed presently has an average rating of "Moderate Buy" and a consensus price target 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.