Corient Private Wealth LLC Has $18.98 Million Holdings in ResMed Inc. (NYSE:RMD)

Corient Private Wealth LLC cut its holdings in ResMed Inc. (NYSE:RMD) by 3.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 82,984 shares of the medical equipment provider’s stock after selling 2,974 shares during the quarter. Corient Private Wealth LLC’s holdings in ResMed were worth $18,978,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in ResMed by 285.1% in the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after buying an additional 439 shares during the period. Peak Financial Advisors LLC acquired a new position in ResMed in the fourth quarter valued at approximately $2,972,000. Principal Financial Group Inc. lifted its stake in ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after buying an additional 5,284 shares during the period. Retireful LLC acquired a new position in ResMed in the third quarter valued at approximately $742,000. Finally, Spire Wealth Management lifted its stake in ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock valued at $2,470,000 after buying an additional 1,100 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ResMed

In other news, insider Kaushik Ghoshal sold 9,745 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the transaction, the insider now owns 9,725 shares of the company’s stock, valued at $2,327,289.75. This represents a 50.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s 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 directly 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 sold 38,940 shares of company stock worth $9,164,385 in the last quarter. 0.71% of the stock is currently owned by company insiders.

ResMed Trading Down 2.1 %

Shares of ResMed stock opened at $220.07 on Wednesday. The stock has a fifty day simple moving average of $235.76 and a 200 day simple moving average of $239.49. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05. The company has a market capitalization of $32.32 billion, a P/E ratio of 25.98, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. 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 announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) 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, sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.96%. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Stifel Nicolaus decreased their price objective on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. KeyCorp boosted their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.82.

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.