Claro Advisors LLC Lowers Holdings in ResMed Inc. (NYSE:RMD)

Claro Advisors LLC trimmed its holdings in ResMed Inc. (NYSE:RMD) by 13.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,609 shares of the medical equipment provider’s stock after selling 544 shares during the period. Claro Advisors LLC’s holdings in ResMed were worth $825,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in shares of ResMed by 1.9% during the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock worth $602,000 after buying an additional 47 shares during the period. Ascent Group LLC boosted its position in shares of ResMed by 1.7% during the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after buying an additional 48 shares during the period. SkyView Investment Advisors LLC boosted its position in shares of ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after buying an additional 51 shares during the period. Wedmont Private Capital boosted its position in shares of ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after buying an additional 52 shares during the period. Finally, Concurrent Investment Advisors LLC raised its stake in shares of ResMed by 3.1% in the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after acquiring an additional 57 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ResMed

In related news, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the transaction, the insider now owns 21,718 shares of the company’s stock, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the transaction, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,099 shares of company stock worth $2,719,385. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RMD shares. Royal Bank of Canada increased their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. KeyCorp increased their price objective on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Piper Sandler started coverage on ResMed in a research note on Friday. They issued a “neutral” rating and a $252.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $233.09.

ResMed Stock Down 1.4 %

RMD opened at $230.55 on Tuesday. The business’s 50-day simple moving average is $239.58 and its 200-day simple moving average is $231.80. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a one year low of $168.29 and a one year high of $260.49. The stock has a market capitalization of $33.84 billion, a P/E ratio of 30.54, a price-to-earnings-growth ratio of 1.73 and a beta of 0.70.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm earned $1.64 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Analysts anticipate that ResMed Inc. will post 9.34 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is currently 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.