Lazard Asset Management LLC Trims Holdings in ResMed Inc. (NYSE:RMD)

Lazard Asset Management LLC trimmed its position in ResMed Inc. (NYSE:RMD - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,262 shares of the medical equipment provider's stock after selling 1,080 shares during the quarter. Lazard Asset Management LLC's holdings in ResMed were worth $2,117,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of RMD. Colonial Trust Co SC raised its stake in shares of ResMed by 6,250.0% in the fourth 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 last quarter. Optiver Holding B.V. purchased a new position in shares of ResMed in the fourth quarter worth about $33,000. Itau Unibanco Holding S.A. raised its stake in shares of ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after purchasing an additional 150 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of ResMed in the fourth quarter worth about $39,000. Finally, Coppell Advisory Solutions LLC raised its stake in shares of ResMed by 1,750.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 175 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total value of $455,420.00. Following the sale, the director now directly owns 75,218 shares of the company's stock, valued at $17,127,890.78. The trade was a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction that occurred on 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 owns 9,725 shares in the company, valued at approximately $2,289,265. The trade was a 48.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,949 shares of company stock valued at $11,335,320 over the last ninety days. Insiders own 0.71% of the company's stock.

Wall Street Analysts Forecast Growth

RMD has been the topic of several analyst reports. Stifel Nicolaus dropped their target price on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. raised their target price on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Piper Sandler dropped their target price on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ResMed has a consensus rating of "Moderate Buy" and an average target price of $258.83.

ResMed Stock Up 1.3%

Shares of RMD opened at $251.75 on Friday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05. The stock's 50 day moving average is $225.34 and its two-hundred day moving average is $234.17. The firm has a market cap of $36.91 billion, a P/E ratio of 29.72, a PEG ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating the consensus estimate of $2.36 by $0.01. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $2.13 earnings per share. Analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio is presently 23.79%.

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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