KPP Advisory Services LLC Cuts Position in ResMed Inc. (NYSE:RMD)

KPP Advisory Services LLC decreased its holdings in ResMed Inc. (NYSE:RMD) by 17.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,071 shares of the medical equipment provider’s stock after selling 225 shares during the quarter. KPP Advisory Services LLC’s holdings in ResMed were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RMD. Northwestern Mutual Wealth Management Co. lifted its position in shares of ResMed by 30.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,133 shares of the medical equipment provider’s stock valued at $982,000 after buying an additional 1,208 shares in the last quarter. Cetera Investment Advisers lifted its holdings in ResMed by 26.8% during the second quarter. Cetera Investment Advisers now owns 9,721 shares of the medical equipment provider’s stock valued at $1,861,000 after purchasing an additional 2,053 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of ResMed in the second quarter valued at about $1,162,000. Handelsbanken Fonder AB increased its stake in shares of ResMed by 4.0% during the third quarter. Handelsbanken Fonder AB now owns 81,554 shares of the medical equipment provider’s stock worth $19,909,000 after purchasing an additional 3,171 shares in the last quarter. Finally, Czech National Bank raised its position in shares of ResMed by 6.9% during the 3rd quarter. Czech National Bank now owns 29,931 shares of the medical equipment provider’s stock worth $7,307,000 after purchasing an additional 1,936 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RMD shares. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Piper Sandler boosted their price target on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday. KeyCorp increased their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday. The Goldman Sachs Group initiated coverage on shares of ResMed in a research note on Thursday, January 16th. They set a “buy” rating on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average price target of $244.73.

Insider Transactions at ResMed

In other ResMed news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. The trade was a 10.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total transaction of $497,480.00. Following the sale, the director now directly owns 83,204 shares in the company, valued at $20,696,162.96. This represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,030 shares of company stock worth $2,702,687. 0.71% of the stock is currently owned by insiders.

ResMed Trading Up 2.1 %

Shares of ResMed stock opened at $241.15 on Tuesday. The stock has a 50 day moving average of $240.17 and a 200 day moving average of $236.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The firm has a market capitalization of $35.40 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 1.69 and a beta of 0.70. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, research analysts predict that ResMed Inc. will post 9.41 earnings per share for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. ResMed’s dividend payout ratio is currently 25.03%.

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.