LVW Advisors LLC Decreases Stock Holdings in ResMed Inc. (NYSE:RMD)

LVW Advisors LLC trimmed its holdings in shares of ResMed Inc. (NYSE:RMD) by 13.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,672 shares of the medical equipment provider’s stock after selling 426 shares during the quarter. LVW Advisors LLC’s holdings in ResMed were worth $598,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RMD. GAMMA Investing LLC grew its holdings in ResMed by 23,982.6% during the first quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider’s stock valued at $164,207,000 after purchasing an additional 730,510 shares during the period. Invesco Ltd. grew its holdings in ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock valued at $531,706,000 after purchasing an additional 566,046 shares during the period. Norges Bank bought a new position in ResMed during the fourth quarter valued at $118,605,000. Captrust Financial Advisors grew its holdings in ResMed by 813.4% during the fourth quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider’s stock valued at $101,387,000 after purchasing an additional 394,803 shares during the period. Finally, AQR Capital Management LLC grew its holdings in ResMed by 133.6% during the fourth quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider’s stock valued at $142,944,000 after purchasing an additional 357,466 shares during the period. 54.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on RMD shares. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a report on Saturday, May 24th. JPMorgan Chase & Co. increased their price objective on ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. KeyCorp set a $274.00 price objective on ResMed in a report on Thursday, April 24th. Royal Bank of Canada raised their price target on ResMed from $247.00 to $255.00 and gave the stock a “sector perform” rating in a report on Thursday, April 24th. Finally, Piper Sandler cut their price target on ResMed from $260.00 to $248.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $259.33.

ResMed Trading Down 0.4%

Shares of RMD stock opened at $243.90 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed Inc. has a 52-week low of $179.42 and a 52-week high of $263.05. The company has a market capitalization of $35.76 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. The business’s fifty day moving average is $230.64 and its 200 day moving average is $234.29.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the business posted $2.13 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. ResMed’s payout ratio is 23.79%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Witte Jan De sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the sale, the director now owns 5,806 shares in the company, valued at $1,413,586.82. This trade represents a 25.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of ResMed stock in a transaction dated 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 completion of the transaction, the insider now owns 9,725 shares in the company, valued at approximately $2,327,289.75. This represents a 50.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,836 shares of company stock worth $9,677,060 over the last 90 days. Corporate insiders own 0.71% of the company’s stock.

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.