JT Stratford LLC Grows Position in ResMed Inc. (NYSE:RMD)

JT Stratford LLC increased its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 75.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,447 shares of the medical equipment provider's stock after purchasing 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 quarter.

Other large investors have also recently made changes to their positions in the company. Colonial Trust Co SC boosted its stake in shares of ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after purchasing an additional 125 shares during the period. Optiver Holding B.V. purchased a new stake in ResMed in the 4th quarter valued at about $33,000. Itau Unibanco Holding S.A. boosted its position in ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after buying an additional 150 shares during the period. OFI Invest Asset Management purchased a new stake in ResMed in the 4th quarter valued at about $39,000. Finally, Coppell Advisory Solutions LLC boosted its position in 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 buying an additional 175 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Trading Down 1.0%

NYSE RMD opened at $245.65 on Thursday. 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 firm has a market cap 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 50 day moving average price of $227.00 and a 200 day moving average price of $234.34. ResMed Inc. has a 52 week low of $179.42 and a 52 week high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. ResMed's revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.13 EPS. As a group, sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company 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 dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.86%. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total transaction of $455,420.00. Following the transaction, the director now owns 75,218 shares in the company, valued at approximately $17,127,890.78. This represents a 2.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the transaction, the insider now owns 9,725 shares in the company, valued at $2,289,265. The trade was a 48.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,949 shares of company stock worth $11,335,320 in the last 90 days. 0.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RMD. Piper Sandler lowered their price objective on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Morgan Stanley began coverage on shares of ResMed in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price objective for the company. Mizuho set a $265.00 price objective on shares of ResMed in a research report on Wednesday, April 16th. Citigroup raised shares of ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $258.83.

ResMed 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.

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