New York Life Investment Management LLC Buys 230 Shares of ResMed Inc. (NYSE:RMD)

New York Life Investment Management LLC lifted its stake in ResMed Inc. (NYSE:RMD) by 1.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 21,914 shares of the medical equipment provider’s stock after purchasing an additional 230 shares during the quarter. New York Life Investment Management LLC’s holdings in ResMed were worth $5,012,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC boosted its stake in shares of ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of ResMed in the third quarter valued at approximately $34,000. BankPlus Trust Department bought a new stake in ResMed during the fourth quarter worth $44,000. Rosenberg Matthew Hamilton bought a new stake in ResMed during the fourth quarter worth $54,000. Finally, Capital Performance Advisors LLP bought a new stake in ResMed during the third quarter worth $60,000. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Up 0.9 %

Shares of NYSE:RMD opened at $233.32 on Friday. The company has a fifty day moving average of $237.06 and a 200-day moving average of $239.69. The company has a market capitalization of $34.27 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed Inc. has a 52-week low of $170.56 and a 52-week high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, equities analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.91%. ResMed’s payout ratio is 25.03%.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the sale, the director now owns 77,218 shares of the company’s stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,147 shares of company stock worth $2,905,745 over the last three months. Company insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler upped their target price on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. KeyCorp upped their target price on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating for the company. Finally, Stifel Nicolaus assumed coverage on ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

ResMed 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.