ResMed Inc. (NYSE:RMD) Shares Sold by Marshall Financial Group LLC

Marshall Financial Group LLC trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 2.7% during the fourth quarter, Holdings Channel reports. The firm owned 10,527 shares of the medical equipment provider’s stock after selling 296 shares during the quarter. Marshall Financial Group LLC’s holdings in ResMed were worth $2,407,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RMD. State Street Corp raised its holdings in shares of ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after buying an additional 116,918 shares during the period. Geode Capital Management LLC grew its position in ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after acquiring an additional 380,383 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in ResMed by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock worth $225,578,000 after purchasing an additional 13,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of ResMed by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock worth $181,237,000 after purchasing an additional 2,406 shares in the last quarter. Finally, Greenvale Capital LLP boosted its stake in shares of ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after purchasing an additional 275,000 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RMD has been the topic of several recent research reports. Piper Sandler started coverage on shares of ResMed in a research note on Friday, January 10th. They set a “neutral” rating and a $252.00 target price on the stock. Robert W. Baird upped their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. KeyCorp increased their price objective on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Stifel Nicolaus initiated coverage on ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 target price for the company. Finally, Royal Bank of Canada increased their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $238.40.

Insider Transactions at ResMed

In related news, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction 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 directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, 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. Insiders sold a total of 11,099 shares of company stock valued at $2,719,385 over the last three months. 0.71% of the stock is currently owned by insiders.

ResMed Stock Up 0.6 %

Shares of NYSE RMD opened at $250.32 on Friday. The firm’s 50-day moving average is $239.25 and its two-hundred day moving average is $234.40. The company has a market capitalization of $36.75 billion, a PE ratio of 33.15, a price-to-earnings-growth ratio of 1.78 and a beta of 0.70. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 EPS. Equities analysts anticipate that ResMed Inc. will post 9.35 EPS for the current fiscal year.

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.