ResMed Inc. (NYSE:RMD) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in ResMed Inc. (NYSE:RMD) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,886 shares of the medical equipment provider’s stock after selling 66 shares during the period. Thrivent Financial for Lutherans’ holdings in ResMed were worth $1,593,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RMD. Axxcess Wealth Management LLC increased its holdings in shares of ResMed by 63.0% in the 4th quarter. Axxcess Wealth Management LLC now owns 9,969 shares of the medical equipment provider’s stock worth $2,280,000 after acquiring an additional 3,853 shares during the period. Parallel Advisors LLC grew its position in ResMed by 6.4% in the 4th quarter. Parallel Advisors LLC now owns 1,697 shares of the medical equipment provider’s stock worth $388,000 after purchasing an additional 102 shares during the last quarter. Cibc World Markets Corp increased its stake in shares of ResMed by 15.8% in the fourth quarter. Cibc World Markets Corp now owns 23,141 shares of the medical equipment provider’s stock valued at $5,292,000 after purchasing an additional 3,164 shares during the period. SlateStone Wealth LLC raised its holdings in shares of ResMed by 6.0% during the fourth quarter. SlateStone Wealth LLC now owns 12,246 shares of the medical equipment provider’s stock valued at $2,800,000 after buying an additional 696 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of ResMed by 157.2% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,017 shares of the medical equipment provider’s stock worth $1,376,000 after buying an additional 3,678 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, January 31st. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Piper Sandler lifted their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Stifel Nicolaus decreased their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Finally, Morgan Stanley started coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $249.73.

ResMed Stock Down 1.2 %

NYSE RMD opened at $219.85 on Monday. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The company has a market capitalization of $32.29 billion, a P/E ratio of 25.96, a PEG ratio of 1.53 and a beta of 0.74. The company’s 50 day simple moving average is $233.70 and its 200 day simple moving average is $238.02. 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 (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio is 25.03%.

Insider Activity at ResMed

In related news, insider Kaushik Ghoshal sold 9,745 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,327,289.75. This represents a 50.05 % decrease in their position. The sale was disclosed in a legal 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 firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,940 shares of company stock worth $9,164,385 in the last quarter. 0.71% of the stock is owned by company insiders.

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.