Empirical Finance LLC Sells 48 Shares of ResMed Inc. (NYSE:RMD)

Empirical Finance LLC lessened its stake in shares of ResMed Inc. (NYSE:RMD) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,961 shares of the medical equipment provider’s stock after selling 48 shares during the period. Empirical Finance LLC’s holdings in ResMed were worth $1,135,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RMD. True Wealth Design LLC lifted its position 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 during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of ResMed during the 3rd quarter worth about $34,000. Rosenberg Matthew Hamilton bought a new stake in ResMed during the 4th quarter valued at approximately $54,000. Capital Performance Advisors LLP acquired a new stake in ResMed in the 3rd quarter valued at approximately $60,000. Finally, Venturi Wealth Management LLC increased its position in ResMed by 55.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 341 shares of the medical equipment provider’s stock worth $83,000 after buying an additional 122 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

ResMed stock opened at $238.56 on Tuesday. ResMed Inc. has a 52 week low of $170.56 and a 52 week high of $263.05. The firm has a market cap of $35.04 billion, a P/E ratio of 28.17, a P/E/G ratio of 1.57 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The business’s fifty day moving average is $239.18 and its two-hundred day moving average is $237.81.

ResMed (NYSE:RMD) last issued its quarterly earnings data 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%. Equities research analysts forecast that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.89%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insiders Place Their Bets

In related news, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the sale, the insider now directly owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the transaction, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,298 shares of company stock valued at $2,506,889. 0.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RMD shares. The Goldman Sachs Group assumed coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Piper Sandler boosted 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. Finally, KeyCorp lifted their price objective on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

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.