ResMed Inc. (NYSE:RMD) Position Decreased by Eukles Asset Management

Eukles Asset Management trimmed its stake in ResMed Inc. (NYSE:RMD) by 4.0% in the 4th quarter, HoldingsChannel reports. The firm owned 22,333 shares of the medical equipment provider’s stock after selling 933 shares during the period. ResMed makes up 2.2% of Eukles Asset Management’s portfolio, making the stock its 10th largest holding. Eukles Asset Management’s holdings in ResMed were worth $5,107,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of RMD. True Wealth Design LLC increased its position in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of ResMed during the 3rd quarter valued at approximately $34,000. Rosenberg Matthew Hamilton purchased a new stake in ResMed in the 4th quarter worth approximately $54,000. Capital Performance Advisors LLP bought a new stake in ResMed during the 3rd quarter worth approximately $60,000. Finally, Venturi Wealth Management LLC raised its stake in ResMed by 55.7% during the 3rd quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock worth $83,000 after acquiring an additional 122 shares during the period. 54.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,094 shares of company stock worth $2,704,941. Corporate insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RMD. Stifel Nicolaus started coverage on shares of ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective for the company. The Goldman Sachs Group started coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating for the company. Piper Sandler boosted their price objective on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $244.73.

ResMed Stock Down 0.1 %

Shares of RMD opened at $236.84 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a market capitalization of $34.78 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 1.57 and a beta of 0.70. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05. The business’s 50 day simple moving average is $239.18 and its 200-day simple moving average is $237.59.

ResMed (NYSE:RMD) last released its quarterly earnings results 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 net margin of 25.34% and a return on equity of 26.17%. As a group, equities analysts expect that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio is 25.03%.

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.