BankPlus Trust Department Acquires New Shares in ResMed Inc. (NYSE:RMD)

BankPlus Trust Department acquired a new stake in shares of ResMed Inc. (NYSE:RMD) in the fourth quarter, Holdings Channel reports. The fund acquired 192 shares of the medical equipment provider’s stock, valued at approximately $44,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RMD. International Assets Investment Management LLC boosted its position in ResMed by 24,311.9% during the 3rd quarter. International Assets Investment Management LLC now owns 26,609 shares of the medical equipment provider’s stock valued at $6,496,000 after purchasing an additional 26,500 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in ResMed by 31.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,254 shares of the medical equipment provider’s stock valued at $2,212,000 after purchasing an additional 2,212 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in ResMed by 35.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,271 shares of the medical equipment provider’s stock valued at $1,775,000 after purchasing an additional 1,893 shares during the period. DekaBank Deutsche Girozentrale boosted its position in ResMed by 16.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 31,923 shares of the medical equipment provider’s stock valued at $7,590,000 after purchasing an additional 4,507 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in ResMed by 6.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 71,013 shares of the medical equipment provider’s stock valued at $17,336,000 after purchasing an additional 4,310 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction 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 transaction, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,147 shares of company stock worth $2,905,745 in the last three months. 0.71% of the stock is currently owned by insiders.

ResMed Stock Up 2.6 %

RMD opened at $235.73 on Wednesday. ResMed Inc. has a one year low of $170.56 and a one year high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock’s fifty day moving average is $237.06 and its 200-day moving average is $239.66. The company has a market capitalization of $34.62 billion, a PE ratio of 27.83, a P/E/G ratio of 1.53 and a beta of 0.70.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (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%. 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 announced 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. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio is 25.03%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Piper Sandler lifted their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. 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 on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Finally, The Goldman Sachs Group assumed coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus target price 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.