3,950 Shares in ResMed Inc. (NYSE:RMD) Bought by Fox Run Management L.L.C.

Fox Run Management L.L.C. purchased a new position in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,950 shares of the medical equipment provider’s stock, valued at approximately $903,000.

A number of other institutional investors also recently bought and sold shares of RMD. True Wealth Design LLC lifted its position in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares during the last quarter. OFI Invest Asset Management bought a new stake in ResMed in the fourth quarter worth $39,000. BankPlus Trust Department bought a new stake in ResMed in the fourth quarter worth $44,000. Rosenberg Matthew Hamilton bought a new stake in ResMed in the fourth quarter worth $54,000. Finally, SBI Securities Co. Ltd. bought a new stake in ResMed in the fourth quarter worth $67,000. 54.98% of the stock is currently owned by institutional investors.

ResMed Price Performance

RMD opened at $219.77 on Friday. The business’s 50-day moving average is $234.91 and its two-hundred day moving average is $239.02. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The firm has a market capitalization of $32.28 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.96%. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Saturday, March 15th. Morgan Stanley assumed coverage on ResMed in a research note on Wednesday. They issued an “overweight” rating and a $280.00 target price on the stock. Piper Sandler increased their target price on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Finally, Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.83.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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, February 5th. The stock was sold at an average price of $242.11, for a total value 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 approximately $18,695,249.98. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock worth $9,164,385 over the last quarter. Insiders own 0.71% of the company’s stock.

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.