Novem Group Purchases Shares of 3,553 ResMed Inc. (NYSE:RMD)

Novem Group acquired a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 3,553 shares of the medical equipment provider's stock, valued at approximately $813,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Colonial Trust Co SC boosted its holdings 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 buying an additional 125 shares during the last quarter. Optiver Holding B.V. acquired a new stake in shares of ResMed in the 4th quarter worth $33,000. Itau Unibanco Holding S.A. lifted its holdings in shares of ResMed by 1,000.0% during 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 period. OFI Invest Asset Management acquired a new stake in ResMed during the fourth quarter valued at $39,000. Finally, Coppell Advisory Solutions LLC lifted its position 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 valued at $42,000 after acquiring an additional 175 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of recent research reports. Mizuho set a $265.00 price target on shares of ResMed in a research note on Wednesday, April 16th. JPMorgan Chase & Co. upped their target price on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Royal Bank of Canada raised their price target on ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 24th. Piper Sandler lowered their price target on ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Finally, Stifel Nicolaus dropped their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have given 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $259.33.

Insider Transactions at ResMed

In related news, insider Kaushik Ghoshal sold 9,113 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly owns 9,725 shares of the company's stock, valued at approximately $2,289,265. This trade represents a 48.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Witte Jan De sold 2,000 shares of ResMed stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the sale, the director now directly owns 5,806 shares in the company, 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. Insiders sold a total of 50,949 shares of company stock worth $11,822,260 over the last ninety days. Company insiders own 0.71% of the company's stock.

ResMed Price Performance

RMD stock traded up $3.45 during midday trading on Tuesday, hitting $246.29. The company's stock had a trading volume of 152,637 shares, compared to its average volume of 1,020,057. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05. 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 company has a 50 day moving average of $228.30 and a two-hundred day moving average of $234.10. The firm has a market capitalization of $36.11 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78.

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

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders 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 yield of 0.86%. ResMed's dividend payout ratio (DPR) is 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.