Signal Advisors Wealth LLC Boosts Stock Position in ResMed Inc. (NYSE:RMD)

Signal Advisors Wealth LLC increased its stake in ResMed Inc. (NYSE:RMD) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,611 shares of the medical equipment provider’s stock after purchasing an additional 92 shares during the quarter. Signal Advisors Wealth LLC’s holdings in ResMed were worth $368,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 110 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of ResMed in the third quarter worth about $34,000. Capital Performance Advisors LLP bought a new position in shares of ResMed in the third quarter valued at approximately $60,000. Quest Partners LLC grew its stake in ResMed by 44.1% during the second quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 100 shares in the last quarter. Finally, Quarry LP increased its holdings in ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 242 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ResMed news, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the sale, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total transaction of $497,480.00. Following the transaction, the director now directly owns 83,204 shares of the company’s stock, valued at approximately $20,696,162.96. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,099 shares of company stock valued at $2,719,385 in the last ninety days. Company insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on RMD. Wolfe Research reissued an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Stifel Nicolaus assumed coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 target price on the stock. Robert W. Baird lifted their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Piper Sandler assumed coverage on shares of ResMed in a research report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price objective on the stock. Finally, KeyCorp boosted their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ResMed has an average rating of “Hold” and an average target price of $233.09.

ResMed Trading Up 1.8 %

Shares of RMD opened at $233.01 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a fifty-two week low of $168.29 and a fifty-two week high of $260.49. The firm has a 50 day moving average price of $239.24 and a 200-day moving average price of $232.06. The firm has a market cap of $34.20 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 1.73 and a beta of 0.70.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 earnings per share. As a group, equities research analysts forecast that ResMed Inc. will post 9.34 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.91%. ResMed’s payout ratio is 28.08%.

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.