WoodTrust Financial Corp Trims Holdings in ResMed Inc. $RMD

WoodTrust Financial Corp cut its holdings in ResMed Inc. (NYSE:RMD) by 52.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,655 shares of the medical equipment provider’s stock after selling 4,100 shares during the quarter. WoodTrust Financial Corp’s holdings in ResMed were worth $880,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in ResMed by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock valued at $5,211,940,000 after purchasing an additional 293,515 shares during the last quarter. Nordea Investment Management AB grew its position in ResMed by 37.2% during the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after purchasing an additional 294,124 shares during the last quarter. Dimensional Fund Advisors LP grew its position in ResMed by 6.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 846,134 shares of the medical equipment provider’s stock valued at $231,587,000 after purchasing an additional 49,540 shares during the last quarter. Caisse de depot et placement du Quebec grew its position in ResMed by 28.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 565,901 shares of the medical equipment provider’s stock valued at $154,904,000 after purchasing an additional 123,781 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in ResMed by 5.4% during the 3rd quarter. Captrust Financial Advisors now owns 537,623 shares of the medical equipment provider’s stock valued at $147,164,000 after purchasing an additional 27,565 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the transaction, the chief executive officer owned 466,223 shares in the company, valued at $127,642,532.94. This represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,023 shares of company stock worth $5,230,857 in the last 90 days. Company insiders own 0.65% of the company’s stock.

ResMed Stock Performance

RMD traded down $0.15 during midday trading on Thursday, hitting $211.78. 74,145 shares of the company traded hands, compared to its average volume of 1,065,745. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $30.85 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company’s 50-day moving average is $234.21 and its 200 day moving average is $246.92. ResMed Inc. has a 52 week low of $210.60 and a 52 week high of $293.81.

ResMed (NYSE:RMD) last posted its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.13. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.43 EPS. On average, research analysts expect that ResMed Inc. will post 11.05 EPS for the current year.

Wall Street Analysts Forecast Growth

RMD has been the topic of several recent analyst reports. KeyCorp cut their price objective on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research report on Monday. Robert W. Baird set a $281.00 price objective on shares of ResMed in a research report on Friday, January 30th. Wells Fargo & Company increased their price objective on shares of ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Piper Sandler increased their price objective on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $294.55.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.