Peloton Wealth Strategists Trims Stock Holdings in ResMed Inc. (NYSE:RMD)

Peloton Wealth Strategists reduced its stake in ResMed Inc. (NYSE:RMD) by 46.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,225 shares of the medical equipment provider’s stock after selling 1,960 shares during the period. Peloton Wealth Strategists’ holdings in ResMed were worth $509,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC raised its holdings in 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 buying an additional 110 shares during the period. Ashton Thomas Securities LLC purchased a new stake in ResMed in the 3rd quarter valued at about $34,000. BankPlus Trust Department purchased a new stake in ResMed in the 4th quarter valued at about $44,000. Rosenberg Matthew Hamilton purchased a new stake in ResMed in the 4th quarter valued at about $54,000. Finally, Capital Performance Advisors LLP acquired a new position in ResMed in the 3rd quarter valued at about $60,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Performance

Shares of ResMed stock opened at $231.03 on Friday. The business has a 50-day simple moving average of $237.14 and a 200-day simple moving average of $239.56. The company has a market cap of $33.93 billion, a PE ratio of 27.28, a P/E/G ratio of 1.53 and a beta of 0.70. ResMed Inc. has a one year low of $170.56 and a one year high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD) last posted 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 return on equity of 26.17% and a net margin of 25.34%. On average, equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, February 13th. ResMed’s payout ratio is 25.03%.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 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 sold a total of 12,147 shares of company stock worth $2,905,745 over the last 90 days. 0.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RMD shares. Piper Sandler lifted their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Stifel Nicolaus started coverage on ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 target price for the company. Finally, The Goldman Sachs Group started coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

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.