Tidal Investments LLC Grows Stake in ResMed Inc. (NYSE:RMD)

Tidal Investments LLC raised its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 111,069 shares of the medical equipment provider's stock after acquiring an additional 6,131 shares during the quarter. Tidal Investments LLC owned approximately 0.08% of ResMed worth $25,400,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RMD. First Horizon Advisors Inc. increased its holdings in ResMed by 285.1% in the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock valued at $136,000 after purchasing an additional 439 shares during the period. Spire Wealth Management grew its position in shares of ResMed by 11.3% in the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock valued at $2,470,000 after buying an additional 1,100 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of ResMed by 2.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider's stock valued at $14,105,000 after buying an additional 1,629 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of ResMed by 38.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,830 shares of the medical equipment provider's stock worth $2,989,000 after acquiring an additional 3,576 shares during the last quarter. Finally, Cumberland Partners Ltd raised its position in shares of ResMed by 550.0% during the fourth quarter. Cumberland Partners Ltd now owns 13,000 shares of the medical equipment provider's stock worth $2,973,000 after acquiring an additional 11,000 shares during the last quarter. Institutional investors own 54.98% of the company's stock.

Insider Transactions at ResMed

In other news, insider Kaushik Ghoshal sold 9,745 shares of ResMed stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the transaction, the insider now directly owns 9,725 shares in the company, valued at $2,327,289.75. This trade represents a 50.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at $95,580,799.20. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,949 shares of company stock valued at $11,822,260 over the last ninety days. 0.71% of the stock is owned by company insiders.

ResMed Stock Down 0.8%

RMD traded down $1.89 during midday trading on Friday, hitting $243.60. The company had a trading volume of 207,022 shares, compared to its average volume of 1,020,250. The stock's 50 day moving average price is $227.42 and its 200 day moving average price is $234.36. ResMed Inc. has a 52 week low of $179.42 and a 52 week high of $263.05. The company has a market capitalization of $35.72 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 1.53 and a beta of 0.78. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

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

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. ResMed's dividend payout ratio is 23.79%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a report on Friday, January 31st. Stifel Nicolaus dropped their price target on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada increased their price objective on shares of 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 target price on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $259.33.

About ResMed

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.