ResMed Inc. (NYSE:RMD) Stock Holdings Trimmed by Numerai GP LLC

Numerai GP LLC decreased its holdings in ResMed Inc. (NYSE:RMD) by 36.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,767 shares of the medical equipment provider’s stock after selling 995 shares during the quarter. Numerai GP LLC’s holdings in ResMed were worth $404,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Wedmont Private Capital grew its position in ResMed by 2.6% in the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after buying an additional 52 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of ResMed by 9.2% in the 4th quarter. Miracle Mile Advisors LLC now owns 917 shares of the medical equipment provider’s stock worth $210,000 after acquiring an additional 77 shares during the period. Signal Advisors Wealth LLC boosted its holdings in shares of ResMed by 6.1% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,611 shares of the medical equipment provider’s stock valued at $368,000 after acquiring an additional 92 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of ResMed by 101.1% during the fourth quarter. Park Avenue Securities LLC now owns 4,431 shares of the medical equipment provider’s stock valued at $1,013,000 after acquiring an additional 2,228 shares during the period. Finally, Occidental Asset Management LLC acquired a new position in shares of ResMed during the fourth quarter valued at approximately $332,000. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

NYSE RMD opened at $248.60 on Friday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05. The company has a market cap of $36.45 billion, a PE ratio of 29.35, a PEG ratio of 1.53 and a beta of 0.78. The stock’s 50-day moving average price is $224.81 and its two-hundred day moving average price is $234.18.

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

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed’s dividend payout ratio (DPR) is currently 23.79%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RMD shares. Morgan Stanley started coverage on ResMed in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 target price for the company. Piper Sandler cut their price objective on ResMed from $260.00 to $248.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Royal Bank of Canada lifted their target price on ResMed from $247.00 to $255.00 and gave the stock a “sector perform” rating in a report on Thursday, April 24th. UBS Group dropped their price target on shares of ResMed from $290.00 to $285.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Stifel Nicolaus cut their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $258.83.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $243.23, for a total transaction of $1,948,029.07. Following the transaction, the chief executive officer now owns 455,503 shares in the company, valued at approximately $110,791,994.69. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the sale, the director now directly owns 75,218 shares of the company’s stock, valued at approximately $17,127,890.78. This represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,949 shares of company stock worth $11,335,320 over the last quarter. Corporate insiders own 0.71% of the company’s stock.

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.