Harel Insurance Investments & Financial Services Ltd. Decreases Holdings in ResMed Inc. (NYSE:RMD)

Harel Insurance Investments & Financial Services Ltd. lowered its position in ResMed Inc. (NYSE:RMD) by 98.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204 shares of the medical equipment provider’s stock after selling 13,480 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in ResMed were worth $47,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of RMD. 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 valued at $28,000 after acquiring an additional 110 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in ResMed in the 3rd quarter worth approximately $34,000. Rosenberg Matthew Hamilton bought a new stake in ResMed in the fourth quarter valued at approximately $54,000. Capital Performance Advisors LLP purchased a new stake in shares of ResMed during the third quarter valued at approximately $60,000. Finally, Quarry LP grew its holdings in shares of ResMed by 271.9% in the second quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Piper Sandler started coverage on ResMed in a report on Friday, January 10th. They set a “neutral” rating and a $252.00 price target on the stock. Royal Bank of Canada upped 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. Finally, The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $238.40.

Insider Buying and Selling

In other ResMed news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the transaction, the director now owns 6,723 shares in the company, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total value of $497,480.00. Following the completion of the sale, the director now directly owns 83,204 shares in the company, valued at approximately $20,696,162.96. This represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,099 shares of company stock worth $2,719,385 in the last 90 days. Insiders own 0.71% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $250.32 on Monday. The company’s fifty day moving average price is $239.25 and its 200-day moving average price is $234.71. The stock has a market cap 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. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $260.49.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the company earned $1.64 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. On average, equities analysts expect that ResMed Inc. will post 9.35 EPS for the current fiscal year.

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.