ResMed Inc. (NYSE:RMD) Position Decreased by Marshall Financial Group LLC

Marshall Financial Group LLC reduced its holdings in ResMed Inc. (NYSE:RMD) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,476 shares of the medical equipment provider’s stock after selling 51 shares during the quarter. Marshall Financial Group LLC’s holdings in ResMed were worth $2,345,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Apollon Wealth Management LLC lifted its position in shares of ResMed by 14.3% during the 4th quarter. Apollon Wealth Management LLC now owns 1,659 shares of the medical equipment provider’s stock valued at $379,000 after acquiring an additional 208 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of ResMed by 12.5% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 888 shares of the medical equipment provider’s stock worth $203,000 after acquiring an additional 99 shares during the last quarter. Empowered Funds LLC raised its position in shares of ResMed by 47.5% during the fourth quarter. Empowered Funds LLC now owns 12,110 shares of the medical equipment provider’s stock worth $2,769,000 after purchasing an additional 3,902 shares during the period. Savant Capital LLC lifted its holdings in shares of ResMed by 4.7% during the fourth quarter. Savant Capital LLC now owns 10,796 shares of the medical equipment provider’s stock valued at $2,469,000 after purchasing an additional 487 shares during the last quarter. Finally, Kentucky Trust Co purchased a new stake in shares of ResMed during the fourth quarter valued at $82,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $219.74, for a total transaction of $439,480.00. Following the transaction, the director now owns 73,218 shares of the company’s stock, valued at approximately $16,088,923.32. This represents a 2.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $251.21, for a total value of $2,011,940.89. Following the sale, the chief executive officer now owns 455,503 shares of the company’s stock, valued at approximately $114,426,908.63. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,132 shares of company stock valued at $7,075,837 in the last 90 days. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RMD has been the topic of several recent analyst reports. UBS Group cut their price objective on ResMed from $290.00 to $285.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus reduced their price target on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Piper Sandler decreased their target price on shares of ResMed from $260.00 to $248.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. KeyCorp set a $274.00 price target on shares of ResMed in a report on Thursday, April 24th. Finally, Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $259.33.

ResMed Price Performance

NYSE:RMD opened at $251.85 on Friday. The firm has a market cap of $36.93 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. The company’s 50-day moving average price is $235.91 and its two-hundred day moving average price is $234.84. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05.

ResMed (NYSE:RMD) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the company earned $2.13 EPS. ResMed’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.84%. ResMed’s dividend payout ratio (DPR) is 23.79%.

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.