Laird Norton Wetherby Wealth Management LLC Has $761,000 Holdings in ResMed Inc. (NYSE:RMD)

Laird Norton Wetherby Wealth Management LLC cut its position in shares of ResMed Inc. (NYSE:RMD) by 7.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,326 shares of the medical equipment provider’s stock after selling 270 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in ResMed were worth $761,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RMD. Janus Henderson Group PLC lifted its position in shares of ResMed by 4.0% in the 4th quarter. Janus Henderson Group PLC now owns 16,807 shares of the medical equipment provider’s stock valued at $3,848,000 after acquiring an additional 647 shares in the last quarter. Focus Partners Wealth raised its stake in ResMed by 197.0% during the 4th quarter. Focus Partners Wealth now owns 11,606 shares of the medical equipment provider’s stock valued at $2,655,000 after purchasing an additional 7,698 shares during the period. Ethic Inc. lifted its holdings in shares of ResMed by 8.6% in the fourth quarter. Ethic Inc. now owns 19,690 shares of the medical equipment provider’s stock valued at $4,503,000 after purchasing an additional 1,562 shares in the last quarter. Fiduciary Trust Co boosted its position in shares of ResMed by 2.4% in the fourth quarter. Fiduciary Trust Co now owns 6,306 shares of the medical equipment provider’s stock worth $1,442,000 after buying an additional 150 shares during the period. Finally, Fred Alger Management LLC grew its holdings in shares of ResMed by 103.9% during the fourth quarter. Fred Alger Management LLC now owns 11,537 shares of the medical equipment provider’s stock valued at $2,638,000 after buying an additional 5,878 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total transaction of $484,500.00. Following the completion of the sale, the director now directly owns 71,218 shares of the company’s stock, valued at approximately $17,252,560.50. This represents a 2.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total transaction of $1,948,029.07. Following the completion of the transaction, the chief executive officer now owns 455,503 shares in the company, valued at $110,791,994.69. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,949 shares of company stock valued at $11,335,320 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RMD. Piper Sandler dropped their price target on ResMed from $260.00 to $248.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. KeyCorp set a $274.00 price objective on shares of ResMed in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group started coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $258.83.

ResMed Trading Down 0.4%

Shares of NYSE:RMD opened at $246.63 on Thursday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $36.16 billion, a PE ratio of 29.12, a P/E/G ratio of 1.53 and a beta of 0.78. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05. The firm has a fifty day moving average price of $224.59 and a 200 day moving average price of $234.16.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business’s quarterly 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 earnings per share. Analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.86%. ResMed’s dividend payout ratio (DPR) is presently 23.79%.

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.