Dakota Wealth Management Buys 7,651 Shares of ResMed Inc. $RMD

Dakota Wealth Management lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 29.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 33,948 shares of the medical equipment provider’s stock after acquiring an additional 7,651 shares during the period. Dakota Wealth Management’s holdings in ResMed were worth $8,177,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Global X Japan Co. Ltd. raised its stake in ResMed by 6,921.8% during the 4th quarter. Global X Japan Co. Ltd. now owns 3,862 shares of the medical equipment provider’s stock worth $930,000 after buying an additional 3,807 shares during the period. Regatta Capital Group LLC acquired a new stake in ResMed in the fourth quarter valued at approximately $2,508,000. Czech National Bank increased its holdings in shares of ResMed by 3.5% during the fourth quarter. Czech National Bank now owns 38,490 shares of the medical equipment provider’s stock valued at $9,271,000 after acquiring an additional 1,303 shares in the last quarter. JGP Wealth Management LLC increased its holdings in shares of ResMed by 5.2% during the fourth quarter. JGP Wealth Management LLC now owns 4,495 shares of the medical equipment provider’s stock valued at $1,083,000 after acquiring an additional 224 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of ResMed by 136.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 80,669 shares of the medical equipment provider’s stock worth $19,431,000 after purchasing an additional 46,596 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RMD has been the topic of a number of recent research reports. KeyCorp reiterated an “overweight” rating and issued a $302.00 target price on shares of ResMed in a report on Friday, January 30th. Piper Sandler upped their price objective on shares of ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Royal Bank Of Canada upped their price objective on shares of ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Citigroup lifted their price objective on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Finally, Stifel Nicolaus boosted their target price on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $299.27.

ResMed Stock Down 1.8%

RMD stock opened at $222.22 on Friday. The firm has a market capitalization of $32.37 billion, a PE ratio of 21.98, a P/E/G ratio of 1.50 and a beta of 0.88. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The stock’s 50 day moving average is $250.50 and its 200-day moving average is $255.56.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company posted $2.43 earnings per share. ResMed’s revenue was up 11.0% compared to the same quarter last year. Sell-side analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were paid a $0.60 dividend. The ex-dividend date was Thursday, February 12th. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. ResMed’s dividend payout ratio is presently 23.74%.

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $251.03, for a total value of $1,252,890.73. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $117,035,959.69. This represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $260.22, for a total transaction of $520,440.00. Following the completion of the sale, the director owned 62,773 shares of the company’s stock, valued at approximately $16,334,790.06. This trade represents a 3.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 21,073 shares of company stock valued at $5,405,198. 0.65% of the stock is currently owned by corporate insiders.

ResMed Company 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.