Wealth Enhancement Advisory Services LLC Has $1.66 Million Stock Holdings in ResMed Inc. $RMD

Key Points

• Wealth Enhancement Advisory Services LLC cut its ResMed stake by 81.9% in Q4, selling 31,153 shares and finishing the period with 6,876 shares valued at $1.656 million.
• Meanwhile, several large institutions boosted positions—Nordea added 294,124 shares to hold 1,084,996 shares (~$262M) and others (Landscape, Allianz, Russell) also increased exposure, leaving institutions with about 54.98% ownership of the stock.
• ResMed posted an earnings beat (EPS $2.81 vs. $2.68 expected) with revenue up 11% to $1.42B; the company has a $32.7B market cap, a $2.40 annual dividend (1.1% yield), and a consensus analyst rating of "Moderate Buy" with a $299.27 target.

Wealth Enhancement Advisory Services LLC decreased its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 81.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,876 shares of the medical equipment provider's stock after selling 31,153 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in ResMed were worth $1,656,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Landscape Capital Management L.L.C. lifted its stake in ResMed by 123.2% in the third quarter. Landscape Capital Management L.L.C. now owns 49,017 shares of the medical equipment provider's stock valued at $13,417,000 after buying an additional 27,060 shares during the period. Nordea Investment Management AB grew its position in shares of ResMed by 37.2% during the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider's stock worth $262,027,000 after buying an additional 294,124 shares during the period. Allianz Asset Management GmbH grew its position in shares of ResMed by 44.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider's stock worth $97,837,000 after buying an additional 110,647 shares during the period. WCM Investment Management LLC bought a new stake in shares of ResMed in the 3rd quarter valued at about $3,110,000. Finally, Russell Investments Group Ltd. increased its stake in shares of ResMed by 20.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 112,755 shares of the medical equipment provider's stock valued at $30,847,000 after acquiring an additional 18,966 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Trading Up 0.1%

NYSE:RMD opened at $224.23 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The business's 50-day simple moving average is $246.52 and its 200-day simple moving average is $253.41. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The stock has a market capitalization of $32.67 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.49 and a beta of 0.93.

ResMed (NYSE:RMD - Get Free Report) last posted its 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 return on equity of 25.20% and a net margin of 27.53%.The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the prior year, the business earned $2.43 EPS. ResMed's revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RMD shares. Stifel Nicolaus lifted their price objective on shares of ResMed from $260.00 to $265.00 and gave the stock a "hold" rating in a research note on Friday, January 30th. UBS Group reaffirmed a "buy" rating and issued a $345.00 target price on shares of ResMed in a research note on Friday, December 12th. Weiss Ratings lowered shares of ResMed from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, March 19th. KeyCorp reissued an "overweight" rating and set a $302.00 price target on shares of ResMed in a research report on Friday, January 30th. Finally, Piper Sandler boosted their price target on shares of ResMed from $270.00 to $275.00 and gave the company a "neutral" rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, ResMed presently has an average rating of "Moderate Buy" and a consensus price target of $299.27.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the company's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares of the company's stock, valued at approximately $117,035,959.69. The trade was a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 23,023 shares of company stock worth $5,843,111. 0.65% of the stock is currently owned by company insiders.

ResMed Company Profile

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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