Apriem Advisors Has $11.29 Million Stock Position in ResMed Inc. (NYSE:RMD)

Apriem Advisors lessened its position in ResMed Inc. (NYSE:RMD) by 24.7% in the fourth quarter, HoldingsChannel reports. The fund owned 49,381 shares of the medical equipment provider’s stock after selling 16,214 shares during the quarter. ResMed makes up approximately 1.3% of Apriem Advisors’ holdings, making the stock its 23rd largest holding. Apriem Advisors’ holdings in ResMed were worth $11,293,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC lifted its holdings in shares of 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 in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of ResMed during the third quarter valued at about $34,000. BankPlus Trust Department acquired a new position in shares of ResMed during the fourth quarter valued at about $44,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed during the fourth quarter worth about $54,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of ResMed in the 3rd quarter worth about $60,000. Institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. KeyCorp lifted their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Stifel Nicolaus assumed coverage on ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price objective on the stock. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. Finally, Piper Sandler boosted their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average price target of $244.73.

ResMed Price Performance

Shares of NYSE RMD opened at $234.46 on Thursday. The firm has a market cap of $34.43 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. The stock has a fifty day simple moving average of $237.15 and a two-hundred day simple moving average of $239.62. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 1-year low of $170.56 and a 1-year high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. ResMed’s dividend payout ratio is currently 25.03%.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction 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 company’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 sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,147 shares of company stock valued at $2,905,745. Corporate insiders own 0.71% of the company’s stock.

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.