ResMed Inc. $RMD Stock Holdings Boosted by Vest Financial LLC

Key Points

• Vest Financial LLC increased its stake in ResMed by 123.8% in Q4 to 98,002 shares (about $23.6 million), while institutional investors now own roughly 54.98% of the company.
• ResMed reported a quarterly EPS beat of $2.81 versus $2.68 expected and revenue of $1.42 billion (up 11% year-over-year), with a net margin of 27.5% and strong ROE.
• Analysts have an average rating of "Moderate Buy" with a $294.55 average price target, although insiders have recently sold shares (21,023 shares over the last 90 days) and now own about 0.65% of the stock.

Vest Financial LLC grew its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 123.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 98,002 shares of the medical equipment provider's stock after purchasing an additional 54,214 shares during the quarter. Vest Financial LLC owned 0.07% of ResMed worth $23,606,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. SJS Investment Consulting Inc. raised its position in ResMed by 1,433.3% in the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 86 shares in the last quarter. ORG Partners LLC raised its holdings in shares of ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider's stock worth $26,000 after purchasing an additional 69 shares in the last quarter. Imprint Wealth LLC acquired a new stake in ResMed during the third quarter valued at approximately $26,000. WFA of San Diego LLC bought a new stake in ResMed during the second quarter worth approximately $26,000. Finally, Sunbelt Securities Inc. bought a new stake in ResMed during the third quarter worth approximately $31,000. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Stock Down 2.2%

Shares of ResMed stock opened at $217.23 on Wednesday. ResMed Inc. has a 1 year low of $215.30 and a 1 year high of $293.81. The company has a market cap of $31.65 billion, a P/E ratio of 21.49, a P/E/G ratio of 1.46 and a beta of 0.93. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $235.14 and a 200 day moving average price of $247.17.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the firm earned $2.43 earnings per share. The firm's revenue was up 11.0% compared to the same quarter last year. As a group, analysts expect that ResMed Inc. will post 11.05 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, February 12th. ResMed's payout ratio is currently 23.74%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Piper Sandler upped their price target on ResMed from $270.00 to $275.00 and gave the company a "neutral" rating in a report on Friday, January 30th. KeyCorp decreased their target price on ResMed from $302.00 to $290.00 and set an "overweight" rating on the stock in a report on Monday. Citigroup cut their target price on ResMed from $345.00 to $340.00 and set a "buy" rating on the stock in a research report on Thursday, April 9th. Wells Fargo & Company upped their target price on ResMed from $265.00 to $270.00 and gave the company an "equal weight" rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. started coverage on shares of ResMed in a research report on Wednesday, April 15th. They issued an "overweight" rating for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, ResMed presently has an average rating of "Moderate Buy" and an average price target of $294.55.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the firm's stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $273.78, for a total value of $1,366,435.98. Following the sale, the chief executive officer directly owned 466,223 shares of the company's stock, valued at $127,642,532.94. This trade represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,023 shares of company stock worth $5,230,857 over the last ninety days. 0.65% of the stock is currently owned by company insiders.

About ResMed

ResMed NYSE: RMD is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed's product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.

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