Wahed Invest LLC Boosts Stock Holdings in ResMed Inc. (NYSE:RMD)

Wahed Invest LLC grew its holdings in ResMed Inc. (NYSE:RMD) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,673 shares of the medical equipment provider’s stock after buying an additional 143 shares during the quarter. Wahed Invest LLC’s holdings in ResMed were worth $840,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optiver Holding B.V. acquired a new stake in shares of ResMed in the fourth quarter valued at approximately $33,000. Itau Unibanco Holding S.A. lifted its stake in ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of ResMed in the fourth quarter valued at approximately $39,000. Coppell Advisory Solutions LLC grew its stake in shares of ResMed by 1,750.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 175 shares in the last quarter. Finally, BankPlus Trust Department purchased a new stake in ResMed during the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 0.1 %

Shares of RMD stock opened at $236.29 on Friday. The firm’s fifty day simple moving average is $222.24 and its 200 day simple moving average is $233.97. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $34.65 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.01. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the firm earned $2.13 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, May 8th. ResMed’s dividend payout ratio (DPR) is 23.79%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. Mizuho set a $265.00 price target on ResMed in a research note on Wednesday, April 16th. Piper Sandler dropped their target price on shares of ResMed from $260.00 to $248.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $258.83.

Insider Transactions at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the completion of the sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $95,580,799.20. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company’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 transaction, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,013 shares of company stock valued at $11,298,816 over the last 90 days. 0.71% of the stock is owned by company insiders.

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.