Vise Technologies Inc. Invests $267,000 in ResMed Inc. (NYSE:RMD)

Vise Technologies Inc. purchased a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,170 shares of the medical equipment provider's stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors also recently modified their holdings of RMD. Mutual Advisors LLC acquired a new position in shares of ResMed during the fourth quarter valued at $208,000. Kingswood Wealth Advisors LLC acquired a new stake in ResMed in the fourth quarter worth about $236,000. Blue Trust Inc. lifted its holdings in ResMed by 43.1% in the fourth quarter. Blue Trust Inc. now owns 1,394 shares of the medical equipment provider's stock worth $340,000 after purchasing an additional 420 shares during the period. KBC Group NV lifted its holdings in ResMed by 2.1% in the fourth quarter. KBC Group NV now owns 74,253 shares of the medical equipment provider's stock worth $16,981,000 after purchasing an additional 1,522 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in ResMed by 52.3% in the fourth quarter. Pacer Advisors Inc. now owns 44,692 shares of the medical equipment provider's stock worth $10,221,000 after purchasing an additional 15,345 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. Piper Sandler reduced their price objective on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Mizuho set a $265.00 price target on shares of ResMed in a research report on Wednesday, April 16th. UBS Group dropped their price target on shares of ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ResMed has an average rating of "Moderate Buy" and a consensus price target of $259.33.

ResMed Stock Up 0.1%

NYSE:RMD traded up $0.31 on Thursday, hitting $245.07. 562,834 shares of the company's stock traded hands, compared to its average volume of 1,022,763. 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 1 year low of $179.42 and a 1 year high of $263.05. The firm has a 50-day moving average price of $229.30 and a 200-day moving average price of $234.25. The company has a market cap of $35.93 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The company had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the previous year, the business posted $2.13 EPS. The business's revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

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 0.87%. ResMed's dividend payout ratio (DPR) is presently 23.79%.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $243.23, for a total value of $1,948,029.07. Following the completion of the sale, the chief executive officer now owns 455,503 shares of the company's stock, valued at approximately $110,791,994.69. The trade was a 1.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Witte Jan De sold 2,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 5,806 shares of the company's stock, valued at approximately $1,413,586.82. The trade was a 25.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,949 shares of company stock valued at $11,822,260 in the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

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.