Ethic Inc. Acquires 1,562 Shares of ResMed Inc. (NYSE:RMD)

Ethic Inc. lifted its stake in ResMed Inc. (NYSE:RMD) by 8.6% during the fourth quarter, HoldingsChannel reports. The firm owned 19,690 shares of the medical equipment provider’s stock after purchasing an additional 1,562 shares during the period. Ethic Inc.’s holdings in ResMed were worth $4,503,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in RMD. Colonial Trust Co SC grew its stake in ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. bought a new position in ResMed in the fourth quarter worth approximately $33,000. Itau Unibanco Holding S.A. increased its holdings in ResMed by 1,000.0% during the 4th 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 during the period. OFI Invest Asset Management bought a new stake in ResMed during the 4th quarter valued at $39,000. Finally, Coppell Advisory Solutions LLC lifted its holdings in shares of ResMed by 1,750.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 175 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $104,394,182.40. The trade was a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total transaction of $455,420.00. Following the completion of the sale, the director now directly owns 75,218 shares in the company, valued at $17,127,890.78. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,949 shares of company stock worth $11,335,320. 0.71% of the stock is currently owned by insiders.

ResMed Price Performance

Shares of RMD stock opened at $245.12 on Friday. ResMed Inc. has a fifty-two week low of $179.42 and a fifty-two week high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The firm has a market capitalization of $35.94 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 1.53 and a beta of 0.78. The stock’s 50-day simple moving average is $223.37 and its 200-day simple moving average is $234.07.

ResMed (NYSE:RMD) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.01. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. ResMed’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.13 EPS. As a group, equities analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a yield of 0.86%. ResMed’s dividend payout ratio is currently 23.79%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank of Canada lifted their price objective on ResMed from $247.00 to $255.00 and gave the company a “sector perform” rating in a report on Thursday, April 24th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Friday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. 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. Finally, Piper Sandler dropped their target price on ResMed from $260.00 to $248.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average price target of $258.83.

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.