Stifel Financial Corp Has $16.36 Million Position in ResMed Inc. (NYSE:RMD)

Stifel Financial Corp boosted its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 24.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,508 shares of the medical equipment provider's stock after acquiring an additional 14,149 shares during the period. Stifel Financial Corp's holdings in ResMed were worth $16,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its holdings in shares of ResMed by 285.1% during the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock valued at $136,000 after purchasing an additional 439 shares during the last quarter. Peak Financial Advisors LLC purchased a new stake in ResMed during the 4th quarter worth approximately $2,972,000. Principal Financial Group Inc. raised its holdings in shares of ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider's stock worth $45,596,000 after buying an additional 5,284 shares during the last quarter. Spire Wealth Management grew its holdings in shares of ResMed by 11.3% during the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock valued at $2,470,000 after buying an additional 1,100 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in ResMed by 2.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider's stock worth $14,105,000 after acquiring an additional 1,629 shares during the last quarter. Institutional investors own 54.98% of the company's stock.

ResMed Stock Performance

Shares of RMD stock traded up $0.20 during trading hours on Thursday, hitting $236.79. The stock had a trading volume of 229,677 shares, compared to its average volume of 1,007,621. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a twelve month low of $179.42 and a twelve month high of $263.05. The stock's 50 day moving average is $222.10 and its 200 day moving average is $234.00. The firm has a market capitalization of $34.78 billion, a PE ratio of 27.95, a PEG ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 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 return on equity of 26.17% and a net margin of 25.34%. The business's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 earnings per share. As a group, research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

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

Insider Activity

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the transaction, the insider now owns 9,725 shares in the company, valued at $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now owns 77,218 shares of the company's stock, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,013 shares of company stock worth $11,298,816. Corporate insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RMD shares. The Goldman Sachs Group started coverage on ResMed in a research report on Thursday, January 16th. They issued a "buy" rating on the stock. UBS Group decreased their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Stifel Nicolaus cut their target price on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. Piper Sandler lowered their price target on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Mizuho set a $265.00 target price on ResMed in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $258.83.

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.