ResMed Inc. (NYSE:RMD) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. trimmed its position in ResMed Inc. (NYSE:RMD) by 7.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,357 shares of the medical equipment provider’s stock after selling 4,607 shares during the period. Addenda Capital Inc.’s holdings in ResMed were worth $12,431,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of ResMed by 1.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 66,597 shares of the medical equipment provider’s stock worth $15,230,000 after purchasing an additional 1,027 shares during the period. LVW Advisors LLC grew its position in shares of ResMed by 23.4% during the 4th quarter. LVW Advisors LLC now owns 3,098 shares of the medical equipment provider’s stock valued at $708,000 after buying an additional 587 shares during the last quarter. Aaron Wealth Advisors LLC raised its stake in ResMed by 25.2% during the fourth quarter. Aaron Wealth Advisors LLC now owns 1,607 shares of the medical equipment provider’s stock worth $368,000 after acquiring an additional 323 shares during the period. Integrated Investment Consultants LLC bought a new position in ResMed in the fourth quarter worth about $1,378,000. Finally, Brooklyn Investment Group boosted its stake in ResMed by 8.1% in the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock valued at $208,000 after acquiring an additional 68 shares during the period. 54.98% of the stock is owned by institutional investors.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 796 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares in the company, valued at $5,279,428.62. This represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,099 shares of company stock valued at $2,719,385. 0.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RMD shares. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus assumed coverage on ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 target price on the stock. Robert W. Baird boosted their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. KeyCorp upped their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Piper Sandler assumed coverage on shares of ResMed in a research report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ResMed presently has a consensus rating of “Hold” and a consensus target price of $233.09.

ResMed Price Performance

NYSE RMD opened at $239.89 on Tuesday. ResMed Inc. has a 12 month low of $170.39 and a 12 month high of $260.49. The firm has a market capitalization of $35.22 billion, a PE ratio of 31.77, a P/E/G ratio of 1.73 and a beta of 0.70. The company’s 50 day simple moving average is $238.51 and its 200 day simple moving average is $233.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $1.64 EPS. As a group, equities research analysts forecast that ResMed Inc. will post 9.34 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

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.