5,296 Shares in ResMed Inc. (NYSE:RMD) Acquired by Sovereign s Capital Management LLC

Sovereign s Capital Management LLC purchased a new position 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 firm purchased 5,296 shares of the medical equipment provider’s stock, valued at approximately $1,211,000.

Other large investors have also made changes to their positions in the company. First Horizon Advisors Inc. boosted its position in shares of ResMed by 285.1% during the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock worth $136,000 after acquiring an additional 439 shares in the last quarter. Spire Wealth Management boosted its position in shares of ResMed by 11.3% during the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after acquiring an additional 1,100 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of ResMed by 2.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock worth $14,105,000 after acquiring an additional 1,629 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of ResMed by 38.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,830 shares of the medical equipment provider’s stock worth $2,989,000 after acquiring an additional 3,576 shares in the last quarter. Finally, Cumberland Partners Ltd boosted its position in shares of ResMed by 550.0% during the 4th quarter. Cumberland Partners Ltd now owns 13,000 shares of the medical equipment provider’s stock worth $2,973,000 after acquiring an additional 11,000 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $251.75 on Monday. The firm has a market cap of $36.91 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. The firm’s fifty day moving average is $225.34 and its 200-day moving average is $234.11. 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 Inc. has a 52 week low of $179.42 and a 52 week high of $263.05.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business earned $2.13 earnings per share. ResMed’s revenue was up 7.9% compared to the same quarter last year. Sell-side analysts predict 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. Investors 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 0.84%. The ex-dividend date is Thursday, May 8th. ResMed’s dividend payout ratio is presently 23.79%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Morgan Stanley began coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price target on the stock. Stifel Nicolaus cut their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. KeyCorp set a $274.00 target price on shares of ResMed in a research report on Thursday, April 24th. Piper Sandler cut their target price on shares of ResMed from $260.00 to $248.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Finally, Royal Bank of Canada raised their target price on shares of ResMed from $247.00 to $255.00 and gave the company a “sector perform” rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $258.83.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. The trade was a 48.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Monday, April 7th. The shares were 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 directly owns 455,472 shares of the company’s stock, valued at approximately $95,580,799.20. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,949 shares of company stock valued at $11,335,320 over the last quarter. Insiders own 0.71% of the company’s stock.

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.