Stephens Investment Management Group LLC Trims Stock Position in ResMed Inc. $RMD

Stephens Investment Management Group LLC lessened its holdings in ResMed Inc. (NYSE:RMD) by 4.1% during the 4th quarter, Holdings Channel reports. The firm owned 273,388 shares of the medical equipment provider’s stock after selling 11,631 shares during the quarter. Stephens Investment Management Group LLC’s holdings in ResMed were worth $65,851,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Dana Investment Advisors Inc. lifted its holdings in shares of ResMed by 4.1% in the fourth quarter. Dana Investment Advisors Inc. now owns 27,826 shares of the medical equipment provider’s stock valued at $6,702,000 after purchasing an additional 1,102 shares in the last quarter. Stephens Inc. AR lifted its holdings in shares of ResMed by 1.6% in the fourth quarter. Stephens Inc. AR now owns 49,427 shares of the medical equipment provider’s stock valued at $11,906,000 after purchasing an additional 771 shares in the last quarter. AlphaCore Capital LLC purchased a new stake in shares of ResMed in the fourth quarter valued at about $234,000. DNB Asset Management AS lifted its holdings in shares of ResMed by 5.8% in the fourth quarter. DNB Asset Management AS now owns 30,240 shares of the medical equipment provider’s stock valued at $7,284,000 after purchasing an additional 1,664 shares in the last quarter. Finally, Applied Finance Capital Management LLC purchased a new stake in shares of ResMed in the fourth quarter valued at about $307,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Piper Sandler upped their price target on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Wells Fargo & Company cut their price objective on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a research report on Friday, May 1st. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Royal Bank Of Canada boosted their price objective on shares of ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. assumed coverage on shares of ResMed in a research report on Wednesday, April 15th. They issued an “overweight” rating for the company. One investment 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 stock. According to MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average price target of $286.18.

ResMed Price Performance

ResMed stock opened at $202.03 on Friday. ResMed Inc. has a 52-week low of $198.61 and a 52-week high of $293.81. The firm has a fifty day moving average of $223.93 and a 200-day moving average of $242.52. The firm has a market capitalization of $29.43 billion, a P/E ratio of 19.48, a PEG ratio of 1.29 and a beta of 0.84. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business earned $2.37 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, analysts predict that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. ResMed’s dividend payout ratio is presently 23.14%.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the completion of the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at $96,890,463.86. This trade represents a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,973 shares of company stock valued at $4,386,031 in the last three months. Company insiders own 0.65% of the company’s stock.

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.