Nicholas Company Inc. Has $14.54 Million Stock Position in ResMed Inc. $RMD

Nicholas Company Inc. lowered its holdings in shares of ResMed Inc. (NYSE:RMD) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,360 shares of the medical equipment provider’s stock after selling 4,005 shares during the period. Nicholas Company Inc.’s holdings in ResMed were worth $14,539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RMD. Valeo Financial Advisors LLC grew its position in shares of ResMed by 10.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 993 shares of the medical equipment provider’s stock worth $239,000 after buying an additional 94 shares during the period. UNIVEST FINANCIAL Corp grew its position in shares of ResMed by 4.4% in the 4th quarter. UNIVEST FINANCIAL Corp now owns 9,118 shares of the medical equipment provider’s stock valued at $2,196,000 after purchasing an additional 382 shares during the period. NewEdge Wealth LLC grew its position in shares of ResMed by 50.1% in the 4th quarter. NewEdge Wealth LLC now owns 3,282 shares of the medical equipment provider’s stock valued at $791,000 after purchasing an additional 1,096 shares during the period. International Assets Investment Management LLC acquired a new position in shares of ResMed in the 4th quarter valued at approximately $25,000. Finally, Crestwood Advisors Group LLC lifted its stake in ResMed by 30.8% in the 4th quarter. Crestwood Advisors Group LLC now owns 1,479 shares of the medical equipment provider’s stock valued at $356,000 after acquiring an additional 348 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RMD shares. KeyCorp cut their target price on ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Citigroup reduced their target price on ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Robert W. Baird set a $225.00 target price on ResMed in a report on Friday, May 1st. Wells Fargo & Company reduced their price objective on ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Finally, Evercore set a $255.00 price objective on ResMed and gave the company an “outperform” rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $286.18.

ResMed Price Performance

Shares of RMD opened at $206.65 on Monday. ResMed Inc. has a 1 year low of $198.64 and a 1 year high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The company has a market capitalization of $30.10 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.32 and a beta of 0.84. The business has a 50-day moving average of $230.41 and a 200-day moving average of $245.04.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the company posted $2.37 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities research analysts anticipate that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 annualized dividend and a yield of 1.2%. ResMed’s payout ratio is currently 23.14%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $251.03, for a total value of $1,252,890.73. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $117,035,959.69. This represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 13,982 shares of company stock worth $3,348,801. Insiders own 0.65% of the company’s stock.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.