ResMed Inc. (NYSE:RMD) Shares Acquired by Parcion Private Wealth LLC

Parcion Private Wealth LLC lifted its stake in ResMed Inc. (NYSE:RMD) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,215 shares of the medical equipment provider’s stock after buying an additional 302 shares during the period. Parcion Private Wealth LLC’s holdings in ResMed were worth $7,367,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC lifted its stake in shares of 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 acquiring an additional 110 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of ResMed during the 3rd quarter worth approximately $34,000. Rosenberg Matthew Hamilton acquired a new position in shares of ResMed in the fourth quarter worth $54,000. Capital Performance Advisors LLP acquired a new position in ResMed in the 3rd quarter valued at about $60,000. Finally, Kentucky Trust Co acquired a new stake in shares of ResMed during the 4th quarter worth about $82,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the subject of a number of recent analyst reports. Piper Sandler lifted 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. The Goldman Sachs Group started coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. Robert W. Baird raised their target price on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of ResMed from $270.00 to $286.00 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 assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $244.73.

ResMed Price Performance

Shares of NYSE:RMD opened at $234.48 on Thursday. The company has a 50-day moving average price of $237.99 and a two-hundred day moving average price of $239.04. The firm has a market capitalization of $34.44 billion, a PE ratio of 27.68, a P/E/G ratio of 1.52 and a beta of 0.70. ResMed Inc. has a twelve month low of $170.56 and a twelve month 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 earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share 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 analysts forecast that ResMed Inc. will post 9.44 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a $0.53 dividend. 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 0.90%. ResMed’s dividend payout ratio is presently 25.03%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction 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 completion of the sale, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the sale, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,307 shares of company stock worth $4,403,180. Insiders own 0.71% of the company’s stock.

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.