Janney Montgomery Scott LLC Acquires 68,518 Shares of ResMed Inc. (NYSE:RMD)

Janney Montgomery Scott LLC raised its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 785.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,238 shares of the medical equipment provider's stock after purchasing an additional 68,518 shares during the quarter. Janney Montgomery Scott LLC owned 0.05% of ResMed worth $13,286,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Morgan Stanley raised its position in ResMed by 102.4% in the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider's stock valued at $344,481,000 after purchasing an additional 1,178,547 shares during the period. abrdn plc boosted its holdings in ResMed by 79.2% during the 3rd quarter. abrdn plc now owns 901,485 shares of the medical equipment provider's stock valued at $133,303,000 after acquiring an additional 398,302 shares during the period. Charles Schwab Investment Management Inc. grew its position in ResMed by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 863,289 shares of the medical equipment provider's stock valued at $148,503,000 after acquiring an additional 46,113 shares in the last quarter. LGT Capital Partners LTD. purchased a new stake in ResMed during the fourth quarter worth about $117,621,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of ResMed by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 536,459 shares of the medical equipment provider's stock worth $92,285,000 after purchasing an additional 40,605 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RMD. Oppenheimer cut their target price on shares of ResMed from $205.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, April 26th. Mizuho reiterated a "buy" rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. KeyCorp boosted their target price on ResMed from $227.00 to $238.00 and gave the stock an "overweight" rating in a research note on Friday, April 26th. UBS Group increased their price target on ResMed from $175.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, January 25th. Finally, Needham & Company LLC boosted their price objective on ResMed from $224.00 to $236.00 and gave the stock a "buy" rating in a research report on Friday, April 26th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, ResMed currently has a consensus rating of "Moderate Buy" and an average target price of $202.80.

Insider Buying and Selling

In other ResMed news, Director Witte Jan De sold 360 shares of the company's stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the sale, the director now directly owns 7,519 shares of the company's stock, valued at approximately $1,641,322.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Witte Jan De sold 360 shares of ResMed stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the sale, the director now owns 7,519 shares of the company's stock, valued at $1,641,322.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares of the company's stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold a total of 26,684 shares of company stock valued at $5,395,412 over the last quarter. 1.21% of the stock is currently owned by insiders.

ResMed Stock Down 0.6 %

RMD stock traded down $1.40 during midday trading on Friday, reaching $218.57. 450,553 shares of the company were exchanged, compared to its average volume of 1,198,189. The company has a market cap of $32.11 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 2.70 and a beta of 0.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $229.97. The stock's 50-day simple moving average is $197.71 and its 200 day simple moving average is $179.80.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the business earned $1.68 EPS. ResMed's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that ResMed Inc. will post 7.64 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.48 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 0.88%. ResMed's dividend payout ratio (DPR) is 29.49%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.