ResMed Inc. (NYSE:RMD) Shares Sold by abrdn plc

abrdn plc cut its stake in ResMed Inc. (NYSE:RMD) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 368,256 shares of the medical equipment provider’s stock after selling 29,554 shares during the period. abrdn plc owned about 0.25% of ResMed worth $84,439,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Peak Financial Advisors LLC purchased a new stake in shares of ResMed in the 4th quarter valued at about $2,972,000. Principal Financial Group Inc. lifted 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 during the last quarter. Retireful LLC acquired a new stake in shares of ResMed in the third quarter valued at approximately $742,000. Asset Management One Co. Ltd. grew its position in shares of ResMed by 5.1% during the third quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock worth $14,369,000 after acquiring an additional 2,878 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of ResMed by 284.3% in the 3rd quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock valued at $2,004,000 after acquiring an additional 6,072 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Robert W. Baird raised their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus started coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 target price on the stock. Finally, KeyCorp increased their price target 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 given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $244.73.

ResMed Stock Performance

NYSE:RMD opened at $240.73 on Wednesday. The firm’s fifty day simple moving average is $240.00 and its 200-day simple moving average is $236.89. 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 stock has a market cap of $35.34 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. ResMed Inc. has a fifty-two week low of $170.56 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 the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Analysts expect that ResMed Inc. will post 9.41 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.88%. ResMed’s dividend payout ratio is presently 25.03%.

Insiders Place Their Bets

In other ResMed news, Director Witte Jan De sold 796 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the sale, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the 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 sale, the director now owns 81,218 shares in the company, valued at $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,094 shares of company stock worth $2,220,721. 0.71% of the stock is owned by corporate insiders.

ResMed 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.