Venturi Wealth Management LLC Grows Stock Position in ResMed Inc. (NYSE:RMD)

Venturi Wealth Management LLC lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 59.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 545 shares of the medical equipment provider’s stock after purchasing an additional 204 shares during the quarter. Venturi Wealth Management LLC’s holdings in ResMed were worth $125,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. True Wealth Design LLC raised its position in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in ResMed in the third quarter worth $34,000. Rosenberg Matthew Hamilton purchased a new position in ResMed in the fourth quarter worth $54,000. Capital Performance Advisors LLP purchased a new position in ResMed in the third quarter worth $60,000. Finally, Kentucky Trust Co purchased a new position in ResMed in the fourth quarter worth $82,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 0.5 %

ResMed stock opened at $231.61 on Friday. The stock has a market cap of $34.02 billion, a PE ratio of 27.34, a P/E/G ratio of 1.53 and a beta of 0.70. The stock has a 50-day moving average price of $237.43 and a 200 day moving average price of $239.07. ResMed Inc. has a 52 week low of $170.56 and a 52 week high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping 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%. Equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 25.03%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Piper Sandler increased their price objective on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Stifel Nicolaus initiated coverage on ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Finally, The Goldman Sachs Group initiated coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, February 5th. The stock was 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 in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Friday, February 7th. The shares were 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 owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,147 shares of company stock worth $2,905,745 in the last 90 days. 0.71% of the stock is owned by company insiders.

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.