Dakota Wealth Management Grows Stake in ResMed Inc. $RMD

Dakota Wealth Management lifted its stake in ResMed Inc. (NYSE:RMD) by 44.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,297 shares of the medical equipment provider’s stock after purchasing an additional 8,094 shares during the quarter. Dakota Wealth Management’s holdings in ResMed were worth $7,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. SJS Investment Consulting Inc. increased its stake in ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 86 shares in the last quarter. WFA of San Diego LLC purchased a new stake in shares of ResMed during the second quarter valued at approximately $26,000. Westside Investment Management Inc. grew its holdings in shares of ResMed by 100.0% during the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 66 shares during the last quarter. GoalVest Advisory LLC bought a new stake in shares of ResMed during the third quarter valued at approximately $37,000. Finally, IMA Advisory Services Inc. raised its holdings in ResMed by 52.7% in the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Piper Sandler increased their target price on ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Royal Bank Of Canada increased their price objective on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Stifel Nicolaus boosted their target price on ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. UBS Group restated a “buy” rating and set a $345.00 target price on shares of ResMed in a research note on Friday, December 12th. Finally, Robert W. Baird set a $281.00 price target on shares of ResMed in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $299.27.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total transaction of $502,620.00. Following the transaction, the director directly owned 64,773 shares in the company, valued at approximately $16,278,102.63. The trade was a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $273.78, for a total value of $1,366,435.98. Following the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $127,642,532.94. This represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 16,082 shares of company stock valued at $4,134,807. Insiders own 0.65% of the company’s stock.

ResMed Stock Down 3.5%

RMD stock opened at $251.72 on Wednesday. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The business’s 50-day moving average is $253.40 and its two-hundred day moving average is $261.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The company has a market cap of $36.67 billion, a price-to-earnings ratio of 24.90, a P/E/G ratio of 1.73 and a beta of 0.87.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the firm earned $2.43 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be given a $0.60 dividend. The ex-dividend date is Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 1.0%. ResMed’s dividend payout ratio (DPR) is presently 23.74%.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.