Wealth Enhancement Advisory Services LLC Acquires 22,278 Shares of ResMed Inc. (NYSE:RMD)

Wealth Enhancement Advisory Services LLC lifted its position in ResMed Inc. (NYSE:RMD - Free Report) by 306.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,549 shares of the medical equipment provider's stock after buying an additional 22,278 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in ResMed were worth $6,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Colonial Trust Co SC increased its stake in ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 125 shares during the last quarter. Optiver Holding B.V. acquired a new position in shares of ResMed during the fourth quarter worth $33,000. Itau Unibanco Holding S.A. increased its position 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 acquiring an additional 150 shares during the period. OFI Invest Asset Management acquired a new position in shares of ResMed in the fourth quarter valued at about $39,000. Finally, Coppell Advisory Solutions LLC grew its position in ResMed by 1,750.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 175 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Kaushik Ghoshal sold 9,745 shares of the 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 sale, the insider now directly owns 9,725 shares of the company's stock, valued at approximately $2,327,289.75. This represents a 50.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the completion of the transaction, the chief executive officer now owns 455,472 shares in the company, valued at $104,394,182.40. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,877 shares of company stock valued at $9,231,634 in the last ninety days. 0.71% of the stock is currently owned by insiders.

ResMed Stock Down 0.1%

Shares of ResMed stock traded down $0.24 on Thursday, reaching $249.70. 643,313 shares of the company were exchanged, compared to its average volume of 1,012,344. The company has a 50-day moving average of $232.25 and a 200 day moving average of $234.55. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $36.61 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 1.53 and a beta of 0.78. ResMed Inc. has a one year low of $179.42 and a one year high of $263.05.

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

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Thursday, May 8th. ResMed's payout ratio is currently 23.79%.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of recent analyst reports. Piper Sandler cut their price target 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. JPMorgan Chase & Co. increased their price target on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. KeyCorp set a $274.00 price target on shares of ResMed in a research report on Thursday, April 24th. Mizuho set a $265.00 target price on ResMed in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus lowered their target price on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ResMed currently has a consensus rating of "Moderate Buy" and a consensus price target 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.