Menard Financial Group LLC Takes Position in ResMed Inc. (NYSE:RMD)

Menard Financial Group LLC acquired a new stake in shares of ResMed Inc. (NYSE:RMD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 428 shares of the medical equipment provider’s stock, valued at approximately $98,000.

Several other institutional investors have also modified their holdings of RMD. Atomi Financial Group Inc. bought a new position in shares of ResMed during the 4th quarter valued at about $246,000. Mutual Advisors LLC bought a new position in shares of ResMed during the 4th quarter valued at about $208,000. Kingswood Wealth Advisors LLC bought a new position in shares of ResMed during the 4th quarter valued at about $236,000. Blue Trust Inc. lifted its holdings in shares of ResMed by 43.1% during the 4th quarter. Blue Trust Inc. now owns 1,394 shares of the medical equipment provider’s stock valued at $340,000 after purchasing an additional 420 shares in the last quarter. Finally, KBC Group NV lifted its stake in ResMed by 2.1% in the 4th quarter. KBC Group NV now owns 74,253 shares of the medical equipment provider’s stock valued at $16,981,000 after acquiring an additional 1,522 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Activity at ResMed

In related news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. This represents a 48.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Witte Jan De sold 2,000 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the sale, the director now owns 5,806 shares in the company, valued at approximately $1,413,586.82. This trade represents a 25.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,949 shares of company stock worth $11,822,260. Company insiders own 0.71% of the company’s stock.

ResMed Trading Down 1.0%

Shares of ResMed stock opened at $243.03 on Tuesday. ResMed Inc. has a 12-month low of $179.42 and a 12-month high of $263.05. The stock has a market cap of $35.63 billion, a P/E ratio of 28.69, a P/E/G ratio of 1.53 and a beta of 0.78. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $228.30 and its 200-day moving average is $234.10.

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

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed’s dividend payout ratio is currently 23.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Piper Sandler cut their target price on ResMed from $260.00 to $248.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. KeyCorp set a $274.00 target price on ResMed in a research note on Thursday, April 24th. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. boosted their target price on ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $259.33.

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.