O Shaughnessy Asset Management LLC Reduces Stock Position in ResMed Inc. (NYSE:RMD)

O Shaughnessy Asset Management LLC reduced its stake in ResMed Inc. (NYSE:RMD) by 17.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,705 shares of the medical equipment provider’s stock after selling 5,785 shares during the period. O Shaughnessy Asset Management LLC’s holdings in ResMed were worth $6,107,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RMD. True Wealth Design LLC boosted its stake in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 110 shares during the period. OFI Invest Asset Management bought a new position in shares of ResMed in the fourth quarter valued at approximately $39,000. BankPlus Trust Department bought a new position in shares of ResMed in the fourth quarter valued at approximately $44,000. Rosenberg Matthew Hamilton bought a new stake in ResMed during the 4th quarter worth approximately $54,000. Finally, SBI Securities Co. Ltd. bought a new stake in ResMed during the 4th quarter worth approximately $67,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RMD. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group began coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. Piper Sandler boosted their price objective on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Morgan Stanley initiated coverage on shares of ResMed in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $249.73.

ResMed Price Performance

Shares of ResMed stock opened at $222.14 on Wednesday. The stock has a market capitalization of $32.62 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company has a fifty day moving average of $232.86 and a 200-day moving average of $237.64. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. 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 (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%. Equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.95%. ResMed’s dividend payout ratio (DPR) is currently 25.03%.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction dated 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 owns 455,472 shares in the company, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the 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 of the company’s stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is currently owned by insiders.

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.