Guggenheim Capital LLC Grows Holdings in ResMed Inc. (NYSE:RMD)

Guggenheim Capital LLC lifted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 51.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,032 shares of the medical equipment provider's stock after purchasing an additional 2,056 shares during the period. Guggenheim Capital LLC's holdings in ResMed were worth $1,379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in ResMed during the fourth quarter worth $39,000. BankPlus Trust Department acquired a new position in ResMed in the 4th quarter valued at about $44,000. Rosenberg Matthew Hamilton purchased a new stake in ResMed during the fourth quarter worth about $54,000. SBI Securities Co. Ltd. acquired a new stake in shares of ResMed during the fourth quarter worth about $67,000. Finally, Kentucky Trust Co purchased a new position in shares of ResMed in the fourth quarter valued at approximately $82,000. Institutional investors and hedge funds own 54.98% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on RMD. Mizuho set a $265.00 target price on shares of ResMed in a research note on Wednesday, April 16th. 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. Royal Bank of Canada raised their price target on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, 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 note on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $258.83.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,013 shares of company stock worth $11,298,816 over the last three months. Corporate insiders own 0.71% of the company's stock.

ResMed Stock Performance

RMD traded down $0.31 on Friday, hitting $235.79. 1,193,608 shares of the company's stock were exchanged, compared to its average volume of 1,017,319. ResMed Inc. has a twelve month low of $179.42 and a twelve month high of $263.05. 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 firm has a market cap of $34.63 billion, a PE ratio of 27.84, a P/E/G ratio of 1.53 and a beta of 0.75. The stock has a fifty day moving average of $221.92 and a two-hundred day moving average of $234.00.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, hitting the consensus estimate of $2.37. The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal 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 issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, May 8th. ResMed's dividend payout ratio is currently 23.79%.

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.