ResMed Inc. (NYSE:RMD) Shares Sold by Advisor OS LLC

Posted by Defense World Staff on Jul 10th, 2023

Advisor OS LLC trimmed its holdings in shares of ResMed Inc. (NYSE:RMD – Free Report) by 26.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 944 shares of the medical equipment provider’s stock after selling 346 shares during the quarter. Advisor OS LLC’s holdings in ResMed were worth $207,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RMD. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of ResMed during the third quarter valued at about $26,000. Compass Wealth Management LLC acquired a new stake in ResMed in the 4th quarter valued at approximately $26,000. Ronald Blue Trust Inc. raised its position in ResMed by 72.8% in the fourth quarter. Ronald Blue Trust Inc. now owns 159 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 67 shares during the period. International Assets Investment Management LLC lifted its stake in ResMed by 3,940.0% during the first quarter. International Assets Investment Management LLC now owns 202 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 197 shares in the last quarter. Finally, Live Oak Investment Partners purchased a new position in shares of ResMed during the fourth quarter worth $44,000. 63.58% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Trading Up 0.4 %

NYSE RMD opened at $215.80 on Monday. ResMed Inc. has a 52 week low of $202.04 and a 52 week high of $247.65. The firm has a 50 day moving average of $221.17 and a two-hundred day moving average of $219.02. The stock has a market capitalization of $31.71 billion, a PE ratio of 36.76, a price-to-earnings-growth ratio of 2.88 and a beta of 0.48. The company has a quick ratio of 1.74, a current ratio of 3.07 and a debt-to-equity ratio of 0.40.

ResMed (NYSE:RMD – Free Report) last posted its earnings results on Thursday, April 27th. The medical equipment provider reported $1.68 EPS for the quarter, beating the consensus estimate of $1.58 by $0.10. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.05 billion. ResMed had a return on equity of 25.82% and a net margin of 21.49%. ResMed’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.32 earnings per share. As a group, research analysts expect that ResMed Inc. will post 6.5 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, May 11th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $1.76 dividend on an annualized basis and a yield of 0.82%. ResMed’s payout ratio is currently 29.98%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RMD shares. UBS Group assumed coverage on ResMed in a report on Monday, May 22nd. They issued a “buy” rating and a $290.00 price objective on the stock. Mizuho started coverage on shares of ResMed in a research note on Thursday, April 13th. They set a “buy” rating and a $255.00 price target on the stock. Finally, StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $263.43.

Insider Transactions at ResMed

In related news, insider Kaushik Ghoshal sold 500 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $239.30, for a total value of $119,650.00. Following the transaction, the insider now directly owns 12,704 shares of the company’s stock, valued at approximately $3,040,067.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Robert Andrew Douglas sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $224.65, for a total transaction of $336,975.00. Following the transaction, the chief operating officer now directly owns 256,526 shares in the company, valued at $57,628,565.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kaushik Ghoshal sold 500 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $239.30, for a total transaction of $119,650.00. Following the completion of the sale, the insider now owns 12,704 shares of the company’s stock, valued at approximately $3,040,067.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,976 shares of company stock worth $7,010,245. 1.39% of the stock is currently owned by insiders.

ResMed Profile

(Free Report)

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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.