Intrust Bank NA Raises Stake in ResMed Inc. (NYSE:RMD)

Intrust Bank NA raised its position in ResMed Inc. (NYSE:RMD) by 2.3% during the fourth quarter, HoldingsChannel reports. The firm owned 5,500 shares of the medical equipment provider’s stock after buying an additional 122 shares during the quarter. Intrust Bank NA’s holdings in ResMed were worth $1,258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RMD. True Wealth Design LLC raised its position in shares of ResMed by 2,200.0% during the 3rd 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. OFI Invest Asset Management acquired a new stake in ResMed during the fourth quarter worth approximately $39,000. BankPlus Trust Department purchased a new stake in shares of ResMed during the 4th quarter worth approximately $44,000. Rosenberg Matthew Hamilton purchased a new stake in shares of ResMed during the 4th quarter worth approximately $54,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of ResMed in the 4th quarter valued at $67,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RMD. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Piper Sandler upped their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased 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 equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and an average price target of $249.73.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kaushik Ghoshal sold 9,745 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total value of $2,332,075.95. Following the sale, the insider now directly owns 9,725 shares in the company, valued at $2,327,289.75. This trade represents a 50.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,940 shares of company stock valued at $9,164,385. 0.71% of the stock is owned by company insiders.

ResMed Trading Down 1.2 %

Shares of ResMed stock opened at $219.85 on Friday. The firm has a market cap of $32.29 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The company’s 50-day simple moving average is $233.70 and its 200-day simple moving average is $238.13. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

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

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s payout ratio is 25.03%.

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.