ResMed Inc. (NYSE:RMD) Holdings Trimmed by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 5.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,422 shares of the medical equipment provider’s stock after selling 500 shares during the period. Fragasso Financial Advisors Inc’s holdings in ResMed were worth $1,926,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of RMD. Marshall Wace LLP acquired a new stake in shares of ResMed in the 2nd quarter valued at $77,285,000. Geode Capital Management LLC lifted its stake in shares of ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after buying an additional 380,383 shares during the period. Greenvale Capital LLP raised its position in ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after purchasing an additional 275,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in ResMed by 726.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after purchasing an additional 249,454 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in ResMed in the second quarter worth about $42,036,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the subject of several recent analyst reports. Baird R W raised shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Piper Sandler began coverage on shares of ResMed in a research note on Friday. They issued a “neutral” rating and a $252.00 price objective on the stock. Royal Bank of Canada lifted their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $233.09.

ResMed Price Performance

Shares of RMD traded down $4.20 during midday trading on Monday, hitting $229.62. The company’s stock had a trading volume of 239,339 shares, compared to its average volume of 688,504. ResMed Inc. has a one year low of $168.29 and a one year high of $260.49. The company’s fifty day simple moving average is $239.84 and its two-hundred day simple moving average is $231.52. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $33.71 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 1.73 and a beta of 0.70.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. As a group, equities analysts expect that ResMed Inc. will post 9.34 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed’s dividend payout ratio is 28.08%.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total transaction of $497,480.00. Following the completion of the sale, the director now directly owns 83,204 shares of the company’s stock, valued at approximately $20,696,162.96. The trade was a 2.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Witte Jan De sold 796 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the sale, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,099 shares of company stock valued at $2,719,385 in the last ninety days. 0.71% of the stock is owned by company insiders.

ResMed Company 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.