Van ECK Associates Corp Has $9.44 Million Stock Holdings in ResMed Inc. (NYSE:RMD)

Van ECK Associates Corp increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,279 shares of the medical equipment provider’s stock after purchasing an additional 1,945 shares during the period. Van ECK Associates Corp’s holdings in ResMed were worth $9,440,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Avidian Wealth Enterprises LLC acquired a new stake in ResMed during the fourth quarter worth approximately $204,000. Kentucky Trust Co acquired a new stake in ResMed during the fourth quarter worth approximately $82,000. Savant Capital LLC grew its stake in ResMed by 4.7% during the fourth quarter. Savant Capital LLC now owns 10,796 shares of the medical equipment provider’s stock worth $2,469,000 after purchasing an additional 487 shares during the period. Kestra Private Wealth Services LLC grew its stake in ResMed by 116.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 8,743 shares of the medical equipment provider’s stock worth $1,999,000 after purchasing an additional 4,702 shares during the period. Finally, Empowered Funds LLC boosted its holdings in ResMed by 47.5% in the fourth quarter. Empowered Funds LLC now owns 12,110 shares of the medical equipment provider’s stock worth $2,769,000 after acquiring an additional 3,902 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD opened at $232.93 on Monday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $34.21 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.57 and a beta of 0.70. The stock has a 50 day moving average of $238.51 and a 200 day moving average of $238.68. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating 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, sell-side analysts forecast that ResMed Inc. will post 9.44 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio is 25.03%.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,307 shares of company stock valued at $4,403,180 over the last ninety days. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on RMD shares. Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada increased their price target on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. KeyCorp increased their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Piper Sandler increased their price target on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus target price of $244.73.

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.