ResMed Inc. (NYSE:RMD) Shares Bought by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 10.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,838 shares of the medical equipment provider’s stock after buying an additional 1,470 shares during the period. UNIVEST FINANCIAL Corp’s holdings in ResMed were worth $3,622,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RMD. First Horizon Advisors Inc. grew its holdings in shares of ResMed by 285.1% during the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after purchasing an additional 439 shares during the last quarter. Peak Financial Advisors LLC bought a new position in ResMed during the 4th quarter worth $2,972,000. Principal Financial Group Inc. increased its position in ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after buying an additional 5,284 shares during the period. Spire Wealth Management lifted its stake in ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock valued at $2,470,000 after buying an additional 1,100 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of ResMed by 2.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock valued at $14,105,000 after acquiring an additional 1,629 shares during the period. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on RMD shares. JPMorgan Chase & Co. increased their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. Piper Sandler increased their price objective on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. Finally, KeyCorp increased their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $246.83.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were 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 owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % 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, insider Kaushik Ghoshal sold 9,745 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,327,289.75. This represents a 50.05 % 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 Stock Down 0.7 %

NYSE RMD opened at $221.40 on Wednesday. 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 $32.52 billion, a P/E ratio of 26.14, a PEG ratio of 1.53 and a beta of 0.74. The company’s 50 day simple moving average is $234.61 and its 200 day simple moving average is $238.66. 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, beating 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%. Equities research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

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%.

About ResMed

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.