Gen Wealth Partners Inc Sells 303 Shares of ResMed Inc. (NYSE:RMD)

Gen Wealth Partners Inc trimmed its holdings in shares of ResMed Inc. (NYSE:RMD) by 21.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,131 shares of the medical equipment provider’s stock after selling 303 shares during the quarter. Gen Wealth Partners Inc’s holdings in ResMed were worth $253,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of RMD. Federated Hermes Inc. increased its position in ResMed by 47.3% during the fourth quarter. Federated Hermes Inc. now owns 1,137 shares of the medical equipment provider’s stock worth $260,000 after acquiring an additional 365 shares during the period. XTX Topco Ltd increased its position in ResMed by 51.1% during the fourth quarter. XTX Topco Ltd now owns 1,866 shares of the medical equipment provider’s stock worth $427,000 after acquiring an additional 631 shares during the period. Guggenheim Capital LLC increased its holdings in ResMed by 51.7% in the 4th quarter. Guggenheim Capital LLC now owns 6,032 shares of the medical equipment provider’s stock valued at $1,379,000 after buying an additional 2,056 shares during the period. Jump Financial LLC increased its holdings in ResMed by 24.2% in the 4th quarter. Jump Financial LLC now owns 7,978 shares of the medical equipment provider’s stock valued at $1,824,000 after buying an additional 1,552 shares during the period. Finally, Zacks Investment Management increased its holdings in ResMed by 1.8% in the 4th quarter. Zacks Investment Management now owns 17,343 shares of the medical equipment provider’s stock valued at $3,966,000 after buying an additional 313 shares during the period. 54.98% of the stock is owned by institutional investors.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 945 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total value of $241,438.05. Following the sale, the director directly owned 68,273 shares of the company’s stock, valued at approximately $17,443,068.77. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $279.48, for a total transaction of $2,238,355.32. Following the completion of the sale, the chief executive officer directly owned 455,503 shares in the company, valued at approximately $127,303,978.44. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,063 shares of company stock valued at $7,058,835 over the last three months. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RMD shares. William Blair raised shares of ResMed to a “strong-buy” rating in a report on Friday, August 1st. Royal Bank Of Canada raised their target price on shares of ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 1st. KeyCorp raised their target price on shares of ResMed from $274.00 to $298.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Finally, UBS Group raised their target price on shares of ResMed from $285.00 to $325.00 and gave the company a “buy” rating in a report on Friday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average price target of $274.83.

ResMed Price Performance

RMD opened at $284.82 on Friday. The firm has a market cap of $41.70 billion, a P/E ratio of 29.95, a PEG ratio of 1.91 and a beta of 0.77. The firm has a 50-day moving average of $264.17 and a 200 day moving average of $243.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.08.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 earnings per share. On average, research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.8%. This is a boost from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Wednesday, August 13th. ResMed’s payout ratio is currently 25.24%.

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.