ResMed Inc. (NYSE:RMD) Shares Sold by Stephens Inc. AR

Stephens Inc. AR lessened its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 10.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,942 shares of the medical equipment provider's stock after selling 5,599 shares during the period. Stephens Inc. AR's holdings in ResMed were worth $10,732,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RMD. Global X Japan Co. Ltd. grew its stake in shares of ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 68 shares during the last quarter. Colonial Trust Co SC grew its stake in shares of ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $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 4th quarter valued at approximately $33,000. Golden State Wealth Management LLC grew its stake in shares of ResMed by 384.8% in the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. grew its stake in shares of 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 purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $254.15 on Monday. The company has a market cap of $37.27 billion, a P/E ratio of 28.52, a P/E/G ratio of 1.59 and a beta of 0.77. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. ResMed Inc. has a 52 week low of $196.43 and a 52 week high of $263.05. The business has a fifty day simple moving average of $250.36 and a 200-day simple moving average of $236.77.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.01. The business 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 25.67% and a net margin of 26.15%. The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 earnings per share. Equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, May 8th. ResMed's dividend payout ratio is currently 23.79%.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $256.72, for a total transaction of $2,056,070.48. Following the transaction, the chief executive officer directly owned 455,503 shares of the company's stock, valued at $116,936,730.16. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total value of $484,500.00. Following the completion of the sale, the director directly owned 71,218 shares of the company's stock, valued at $17,252,560.50. The trade was a 2.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,013 shares of company stock worth $7,238,913. Company insiders own 0.71% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on RMD. Piper Sandler reduced 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. KeyCorp set a $274.00 price target on ResMed in a report on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. UBS Group reduced their price target on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Wall Street Zen cut ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $259.33.

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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