MassMutual Private Wealth & Trust FSB Buys 2,142 Shares of ResMed Inc. (NYSE:RMD)

MassMutual Private Wealth & Trust FSB increased its position in ResMed Inc. (NYSE:RMD) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,739 shares of the medical equipment provider’s stock after purchasing an additional 2,142 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in ResMed were worth $15,387,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RMD. Howard Capital Management Inc. raised its holdings in ResMed by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after buying an additional 45 shares during the last quarter. Faithward Advisors LLC increased its position in shares of ResMed by 4.3% during the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider’s stock valued at $292,000 after acquiring an additional 53 shares in the last quarter. Meiji Yasuda Life Insurance Co raised its holdings in ResMed by 4.6% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 1,356 shares of the medical equipment provider’s stock worth $310,000 after acquiring an additional 60 shares during the last quarter. HighPoint Advisor Group LLC lifted its position in ResMed by 2.6% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider’s stock valued at $610,000 after acquiring an additional 64 shares in the last quarter. Finally, ABLE Financial Group LLC lifted its position in ResMed by 2.8% in the 4th quarter. ABLE Financial Group LLC now owns 2,639 shares of the medical equipment provider’s stock valued at $604,000 after acquiring an additional 72 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $243.23, for a total value of $1,948,029.07. Following the transaction, the chief executive officer now directly owns 455,503 shares of the company’s stock, valued at approximately $110,791,994.69. The trade was a 1.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Witte Jan De sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total transaction of $486,940.00. Following the sale, the director now directly owns 5,806 shares of the company’s stock, valued at approximately $1,413,586.82. This trade represents a 25.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, 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 0.6%

Shares of ResMed stock opened at $244.66 on Thursday. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05. The company’s fifty day simple moving average is $229.30 and its 200-day simple moving average is $234.25. 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 stock has a market capitalization of $35.87 billion, a PE ratio of 28.88, a P/E/G ratio of 1.53 and a beta of 0.78.

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

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders 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 yield of 0.87%. The ex-dividend date is Thursday, May 8th. ResMed’s payout ratio is 23.79%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RMD shares. Royal Bank of Canada boosted their price target on ResMed from $247.00 to $255.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 24th. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. UBS Group lowered their target price on shares of ResMed from $290.00 to $285.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Morgan Stanley set a $286.00 price target on shares of ResMed and gave the company an “overweight” rating in a report on Tuesday, May 20th. Finally, Piper Sandler decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $259.33.

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.