Tower Research Capital LLC TRC Acquires 5,032 Shares of ResMed Inc. (NYSE:RMD)

Tower Research Capital LLC TRC lifted its holdings in ResMed Inc. (NYSE:RMD) by 147.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,445 shares of the medical equipment provider’s stock after buying an additional 5,032 shares during the quarter. Tower Research Capital LLC TRC’s holdings in ResMed were worth $1,931,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RMD. OFI Invest Asset Management bought a new position in shares of ResMed in the fourth quarter worth about $39,000. BankPlus Trust Department acquired a new stake in shares of ResMed in the fourth quarter valued at approximately $44,000. Rosenberg Matthew Hamilton bought a new position in ResMed in the 4th quarter worth approximately $54,000. SBI Securities Co. Ltd. acquired a new position in ResMed during the 4th quarter worth $67,000. Finally, Kentucky Trust Co bought a new position in ResMed in the 4th quarter valued at $82,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at approximately $95,580,799.20. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,013 shares of company stock valued at $11,298,816. Company insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Mizuho set a $265.00 price objective on ResMed in a report on Wednesday, April 16th. Piper Sandler lifted their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Morgan Stanley began coverage on shares of ResMed in a report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price objective on the stock. Finally, Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.08.

ResMed Stock Up 1.7 %

Shares of ResMed stock opened at $214.40 on Wednesday. The company has a market capitalization of $31.49 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The business has a 50-day moving average of $222.11 and a two-hundred day moving average of $234.16. ResMed Inc. has a 1 year low of $179.00 and a 1 year high of $263.05.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping 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, equities analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.99%. ResMed’s dividend payout ratio is currently 25.03%.

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.