Nutshell Asset Management Ltd Acquires New Shares in ResMed Inc. (NYSE:RMD)

Nutshell Asset Management Ltd acquired a new position in shares of ResMed Inc. (NYSE:RMD) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,746 shares of the medical equipment provider’s stock, valued at approximately $2,229,000. ResMed comprises about 1.4% of Nutshell Asset Management Ltd’s investment portfolio, making the stock its 23rd biggest position.

Several other large investors also recently bought and sold shares of RMD. First Horizon Advisors Inc. increased its holdings in ResMed by 285.1% during 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 in the last quarter. Peak Financial Advisors LLC purchased a new position in ResMed in the 4th quarter valued at about $2,972,000. Principal Financial Group Inc. boosted its stake in shares of ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after purchasing an additional 5,284 shares during the last quarter. Spire Wealth Management grew its holdings in shares of ResMed by 11.3% during the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after buying an additional 1,100 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in shares of ResMed by 2.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock valued at $14,105,000 after buying an additional 1,629 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

ResMed stock opened at $204.72 on Friday. The company has a fifty day moving average price of $230.74 and a two-hundred day moving average price of $237.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The company has a market cap of $30.07 billion, a PE ratio of 24.17, a P/E/G 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 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 expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared 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 dividend yield of 1.04%. ResMed’s payout ratio is currently 25.03%.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of analyst reports. Piper Sandler raised their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Stifel Nicolaus decreased their price objective on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. The Goldman Sachs Group assumed coverage on shares of ResMed in a research note on Thursday, January 16th. They set a “buy” rating for the company. Morgan Stanley began coverage on shares of ResMed in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 target price on the stock. Finally, StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus price target of $249.73.

Insider Activity

In other ResMed 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 sale, the director now owns 77,218 shares of the company’s stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the transaction, the insider now directly owns 9,725 shares in the company, valued at approximately $2,327,289.75. The trade was a 50.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,004 shares of company stock valued at $9,618,128. Insiders own 0.71% of the company’s stock.

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.