NewEdge Advisors LLC Reduces Holdings in ResMed Inc. (NYSE:RMD)

NewEdge Advisors LLC cut its position in ResMed Inc. (NYSE:RMD - Free Report) by 47.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,128 shares of the medical equipment provider's stock after selling 1,931 shares during the period. NewEdge Advisors LLC's holdings in ResMed were worth $487,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Jump Financial LLC grew its position in shares of ResMed by 24.2% in the 4th quarter. Jump Financial LLC now owns 7,978 shares of the medical equipment provider's stock valued at $1,824,000 after buying an additional 1,552 shares during the last quarter. Guggenheim Capital LLC grew its position in shares of ResMed by 51.7% in the 4th quarter. Guggenheim Capital LLC now owns 6,032 shares of the medical equipment provider's stock valued at $1,379,000 after buying an additional 2,056 shares during the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of ResMed in the 4th quarter valued at $33,191,000. Canada Post Corp Registered Pension Plan purchased a new position in shares of ResMed in the 4th quarter valued at $575,000. Finally, XTX Topco Ltd grew its position in shares of ResMed by 51.1% in the 4th quarter. XTX Topco Ltd now owns 1,866 shares of the medical equipment provider's stock valued at $427,000 after buying an additional 631 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Price Performance

Shares of RMD traded down $0.30 during trading hours on Thursday, reaching $236.29. The company had a trading volume of 732,155 shares, compared to its average volume of 1,009,562. The firm has a 50 day simple moving average of $222.10 and a 200-day simple moving average of $234.00. 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 $34.65 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 1.53 and a beta of 0.75. ResMed Inc. has a 12-month low of $179.42 and a 12-month high of $263.05.

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

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. ResMed's dividend payout ratio is presently 23.79%.

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares of the company's stock, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,013 shares of company stock worth $11,298,816 in the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Citigroup raised shares of ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Stifel Nicolaus lowered their price objective 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. KeyCorp set a $274.00 price objective on shares of ResMed in a research report on Thursday, April 24th. Finally, Needham & Company LLC reissued a "hold" rating on shares of ResMed in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $258.83.

ResMed Company 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.