ResMed Inc. (NYSE:RMD) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,180 shares of the medical equipment provider’s stock after selling 557 shares during the period. M&T Bank Corp’s holdings in ResMed were worth $2,328,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RMD. True Wealth Design LLC grew its holdings in 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. Ashton Thomas Securities LLC acquired a new position in ResMed during the 3rd quarter worth $34,000. BankPlus Trust Department acquired a new position in ResMed during the 4th quarter worth $44,000. Rosenberg Matthew Hamilton acquired a new position in ResMed during the 4th quarter worth $54,000. Finally, Capital Performance Advisors LLP acquired a new position in ResMed during the 3rd quarter worth $60,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Trading Up 3.3 %

Shares of NYSE:RMD opened at $232.40 on Monday. The company has a market cap of $34.13 billion, a PE ratio of 27.44, a P/E/G ratio of 1.53 and a beta of 0.74. The company’s 50-day moving average price is $236.70 and its 200 day moving average price is $240.04. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. 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 quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. ResMed’s dividend payout ratio (DPR) is 25.03%.

Insiders Place Their Bets

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the sale, the insider now directly owns 9,725 shares in the company, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,186 shares of company stock worth $4,996,646. 0.71% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RMD. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, January 31st. Stifel Nicolaus decreased their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Piper Sandler raised their price objective on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. Finally, KeyCorp lifted their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $243.82.

ResMed Company 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.