Janney Montgomery Scott LLC trimmed its position in ResMed Inc. (NYSE:RMD – Free Report) by 11.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 75,487 shares of the medical equipment provider’s stock after selling 10,020 shares during the quarter. Janney Montgomery Scott LLC’s holdings in ResMed were worth $17,263,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Peak Financial Advisors LLC bought a new position in ResMed during the fourth quarter valued at about $2,972,000. Principal Financial Group Inc. boosted its position in shares of ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after purchasing an additional 5,284 shares in the last quarter. Retireful LLC acquired a new position in shares of ResMed in the 3rd quarter worth approximately $742,000. Asset Management One Co. Ltd. raised its holdings in shares of ResMed by 5.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock worth $14,369,000 after purchasing an additional 2,878 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in ResMed by 284.3% during the third quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock valued at $2,004,000 after purchasing an additional 6,072 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.
ResMed Trading Up 0.6 %
Shares of NYSE:RMD opened at $250.32 on Friday. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $36.75 billion, a P/E ratio of 33.15, a price-to-earnings-growth ratio of 1.78 and a beta of 0.70. The firm has a fifty day moving average of $239.25 and a two-hundred day moving average of $234.40.
Insider Activity at ResMed
In other ResMed news, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the sale, the insider now directly owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total transaction of $497,480.00. Following the transaction, the director now owns 83,204 shares in the company, valued at approximately $20,696,162.96. This trade represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,099 shares of company stock valued at $2,719,385. 0.71% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several research firms have issued reports on RMD. Piper Sandler assumed coverage on ResMed in a report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price target on the stock. Royal Bank of Canada upped their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Stifel Nicolaus initiated coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price target on the stock. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, KeyCorp lifted their target price on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus target price of $238.40.
View Our Latest Stock Report on RMD
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.
Read More
- Five stocks we like better than ResMed
- 5 Top Rated Dividend Stocks to Consider
- Bloom Energy: Powering the Future With Decentralized Energy
- 3 Healthcare Dividend Stocks to Buy
- Dividend Powerhouses: Blue-Chip Stocks Built for the Long Haul
- Options Trading – Understanding Strike Price
- Why Traders Are Buying the Dip on Johnson & Johnson Stock
Want to see what other hedge funds are holding RMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ResMed Inc. (NYSE:RMD – Free Report).
Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.