Kestra Private Wealth Services LLC Has $1.09 Million Stake in ResMed Inc. (NYSE:RMD)

Kestra Private Wealth Services LLC boosted its position in shares of ResMed Inc. (NYSE:RMD) by 36.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,322 shares of the medical equipment provider’s stock after acquiring an additional 1,695 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in ResMed were worth $1,088,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 128 shares during the last quarter. Planned Solutions Inc. acquired a new stake in ResMed during the 4th quarter valued at $34,000. MV Capital Management Inc. boosted its position in ResMed by 39.0% during the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares during the period. Operose Advisors LLC acquired a new position in shares of ResMed in the third quarter valued at $32,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of ResMed in the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

NYSE RMD opened at $216.98 on Friday. The company has a market capitalization of $31.88 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 2.70 and a beta of 0.64. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $237.26. The stock has a fifty day simple moving average of $189.86 and a 200 day simple moving average of $174.00.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $1.68 earnings per share. Sell-side analysts expect that ResMed Inc. will post 7.59 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be issued a $0.48 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 annualized dividend and a yield of 0.88%. ResMed’s payout ratio is 29.49%.

Analysts Set New Price Targets

Several research firms have weighed in on RMD. Mizuho reissued a “buy” rating and issued a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. UBS Group lifted their price target on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Needham & Company LLC upped their price objective on ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a report on Friday, April 26th. Oppenheimer reduced their target price on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average target price of $202.80.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold a total of 11,641 shares of company stock worth $2,137,958 in the last 90 days. Corporate insiders own 1.21% of the company’s stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.