Lbp Am Sa Has $1.33 Million Holdings in ResMed Inc. (NYSE:RMD)

Lbp Am Sa boosted its holdings in ResMed Inc. (NYSE:RMD) by 136.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,818 shares of the medical equipment provider’s stock after buying an additional 3,357 shares during the quarter. Lbp Am Sa’s holdings in ResMed were worth $1,331,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in ResMed by 285.1% in the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after buying an additional 439 shares in the last quarter. Peak Financial Advisors LLC acquired a new stake in ResMed in the fourth quarter valued at about $2,972,000. Principal Financial Group Inc. boosted its stake in ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after buying an additional 5,284 shares in the last quarter. Retireful LLC acquired a new stake in ResMed in the third quarter valued at about $742,000. Finally, Spire Wealth Management boosted its stake in ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock valued at $2,470,000 after buying an additional 1,100 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Trading Up 2.2 %

Shares of RMD stock opened at $224.48 on Friday. The company has a market cap of $32.97 billion, a P/E ratio of 26.50, a PEG ratio of 1.53 and a beta of 0.74. The stock has a 50 day simple moving average of $236.30 and a two-hundred day simple moving average of $239.82. 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 fifty-two week low of $172.19 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping 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%. Research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.94%. ResMed’s payout ratio is currently 25.03%.

Insiders Place Their Bets

In other news, insider Kaushik Ghoshal sold 9,113 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,289,265. This represents a 48.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $484,220.00. Following the transaction, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on RMD. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Piper Sandler lifted their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. The Goldman Sachs Group began coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating on the stock. KeyCorp lifted their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.82.

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.