SVB Wealth LLC Makes New $257,000 Investment in ResMed Inc. (NYSE:RMD)

SVB Wealth LLC bought a new position in ResMed Inc. (NYSE:RMD) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,123 shares of the medical equipment provider’s stock, valued at approximately $257,000.

Several other large investors have also bought and sold shares of the company. Wakefield Asset Management LLLP purchased a new position in ResMed in the fourth quarter worth about $3,300,000. QRG Capital Management Inc. raised its holdings in ResMed by 162.1% in the fourth quarter. QRG Capital Management Inc. now owns 17,812 shares of the medical equipment provider’s stock worth $4,074,000 after buying an additional 11,015 shares during the last quarter. Versor Investments LP raised its holdings in ResMed by 220.0% in the fourth quarter. Versor Investments LP now owns 7,360 shares of the medical equipment provider’s stock worth $1,683,000 after buying an additional 5,060 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in ResMed in the fourth quarter worth about $50,364,000. Finally, Mn Services Vermogensbeheer B.V. raised its holdings in ResMed by 1.6% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 57,378 shares of the medical equipment provider’s stock worth $13,122,000 after buying an additional 900 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RMD has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. KeyCorp lifted their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Finally, Piper Sandler lifted their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.82.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the transaction, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,186 shares of company stock worth $4,541,226 over the last three months. 0.71% of the stock is currently owned by company insiders.

ResMed Stock Performance

Shares of NYSE RMD opened at $223.76 on Thursday. The firm has a 50 day moving average of $236.90 and a 200 day moving average of $239.90. 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 firm has a market capitalization of $32.86 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05.

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

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given 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 dividend yield of 0.95%. ResMed’s payout ratio is currently 25.03%.

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.