Neuberger Berman Group LLC Has $1.27 Million Holdings in ResMed Inc. (NYSE:RMD)

Neuberger Berman Group LLC increased its position in shares of ResMed Inc. (NYSE:RMDFree Report) by 23.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,370 shares of the medical equipment provider’s stock after acquiring an additional 1,399 shares during the quarter. Neuberger Berman Group LLC’s holdings in ResMed were worth $1,268,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of ResMed during the fourth quarter valued at approximately $27,000. Operose Advisors LLC purchased a new position in ResMed during the third quarter valued at approximately $32,000. Planned Solutions Inc. purchased a new position in ResMed during the fourth quarter valued at approximately $34,000. MV Capital Management Inc. grew its position in ResMed by 39.0% during the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 60 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in ResMed during the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on RMD shares. KeyCorp boosted their target price on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Mizuho reissued a “buy” rating and issued a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. Royal Bank of Canada boosted their target price on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. Needham & Company LLC boosted their target price on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Oppenheimer decreased their target price on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.80.

Check Out Our Latest Analysis on ResMed

ResMed Price Performance

NYSE:RMD opened at $211.67 on Tuesday. The stock has a market cap of $31.10 billion, a P/E ratio of 32.51, a PEG ratio of 2.07 and a beta of 0.69. ResMed Inc. has a one year low of $132.24 and a one year high of $229.97. The company has a fifty day moving average price of $203.69 and a 200 day moving average price of $187.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97.

ResMed (NYSE:RMDGet Free Report) last released its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating the consensus estimate of $1.91 by $0.22. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.68 EPS. Analysts anticipate that ResMed Inc. will post 7.7 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.91%. The ex-dividend date is Wednesday, May 8th. ResMed’s payout ratio is currently 29.49%.

Insider Activity at ResMed

In other news, Director Witte Jan De sold 360 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the transaction, the director now owns 7,519 shares in the company, valued at approximately $1,641,322.51. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Witte Jan De sold 360 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the transaction, the director now owns 7,519 shares in the company, valued at approximately $1,641,322.51. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $211.66, for a total transaction of $3,107,803.78. Following the completion of the transaction, the chief executive officer now owns 440,799 shares of the company’s stock, valued at approximately $93,299,516.34. The disclosure for this sale can be found here. Insiders sold a total of 30,151 shares of company stock worth $6,456,599 in the last ninety days. 1.21% of the stock is currently owned by insiders.

About ResMed

(Free Report)

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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.

Further Reading

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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