Ritholtz Wealth Management Buys 7,582 Shares of ResMed Inc. (NYSE:RMD)

Ritholtz Wealth Management raised its stake in ResMed Inc. (NYSE:RMD) by 299.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,111 shares of the medical equipment provider’s stock after buying an additional 7,582 shares during the quarter. Ritholtz Wealth Management’s holdings in ResMed were worth $2,263,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Colonial Trust Co SC lifted its position in shares of ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 125 shares in the last quarter. Optiver Holding B.V. bought a new stake in shares of ResMed in the fourth quarter worth $33,000. Itau Unibanco Holding S.A. lifted its position in shares of ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. OFI Invest Asset Management bought a new stake in ResMed during the fourth quarter worth $39,000. Finally, Coppell Advisory Solutions LLC lifted its stake in ResMed by 1,750.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 175 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Activity at ResMed

In related news, Director Witte Jan De sold 2,000 shares of ResMed stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the transaction, the director now directly owns 5,806 shares of the company’s stock, valued at $1,413,586.82. This trade represents a 25.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $251.21, for a total transaction of $2,011,940.89. Following the transaction, the chief executive officer now owns 455,503 shares of the company’s stock, valued at approximately $114,426,908.63. This represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,132 shares of company stock valued at $7,075,837 over the last quarter. 0.71% of the stock is owned by corporate insiders.

ResMed Stock Performance

Shares of NYSE:RMD opened at $251.61 on Tuesday. ResMed Inc. has a 12-month low of $179.42 and a 12-month high of $263.05. The company’s 50 day moving average price is $237.75 and its two-hundred day moving average price is $234.65. The firm has a market cap of $36.89 billion, a PE ratio of 29.71, a PEG ratio of 1.53 and a beta of 0.78. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.13 earnings per share. Equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Thursday, May 8th. ResMed’s dividend payout ratio (DPR) is presently 23.79%.

Wall Street Analysts Forecast Growth

RMD has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Royal Bank of Canada boosted their price objective on shares of ResMed from $247.00 to $255.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 24th. UBS Group lowered their price objective on shares of ResMed from $290.00 to $285.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, Piper Sandler lowered their price objective on shares of ResMed from $260.00 to $248.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $259.33.

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.