14,432 Shares in ResMed Inc. (NYSE:RMD) Purchased by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP purchased a new position in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,432 shares of the medical equipment provider’s stock, valued at approximately $3,300,000.

A number of other large investors have also recently modified their holdings of RMD. First Horizon Advisors Inc. increased its position in ResMed by 285.1% in the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after acquiring an additional 439 shares during the period. Peak Financial Advisors LLC bought a new position in shares of ResMed in the 4th quarter worth $2,972,000. Principal Financial Group Inc. boosted its stake in ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after purchasing an additional 5,284 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of 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 purchasing an additional 1,100 shares in the last quarter. Finally, Retireful LLC bought a new stake in ResMed during the third quarter worth $742,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RMD. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. Piper Sandler boosted their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. KeyCorp increased their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group started coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. Finally, Stifel Nicolaus started coverage on shares of ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $244.73.

ResMed Price Performance

ResMed stock opened at $231.03 on Friday. ResMed Inc. has a 52-week low of $170.56 and a 52-week 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. The firm’s fifty day moving average is $237.14 and its 200 day moving average is $239.56. The company has a market cap of $33.93 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.53 and a beta of 0.70.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is currently 25.03%.

Insider Buying and Selling

In other 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 in the company, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 12,147 shares of company stock worth $2,905,745 over the last three months. 0.71% of the stock is owned by insiders.

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.