Crossmark Global Holdings Inc. Purchases 17,487 Shares of ResMed Inc. $RMD

Crossmark Global Holdings Inc. boosted its position in ResMed Inc. (NYSE:RMD) by 136.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 30,308 shares of the medical equipment provider’s stock after purchasing an additional 17,487 shares during the period. Crossmark Global Holdings Inc.’s holdings in ResMed were worth $8,296,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jones Financial Companies Lllp raised its stake in ResMed by 52.6% in the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after buying an additional 994 shares during the period. Assetmark Inc. lifted its position in shares of ResMed by 42.8% in the second quarter. Assetmark Inc. now owns 2,056 shares of the medical equipment provider’s stock valued at $531,000 after buying an additional 616 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in shares of ResMed during the 2nd quarter worth approximately $264,000. Resona Asset Management Co. Ltd. increased its holdings in shares of ResMed by 6.3% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 49,131 shares of the medical equipment provider’s stock worth $12,654,000 after acquiring an additional 2,899 shares during the last quarter. Finally, Twin Capital Management Inc. increased its holdings in shares of ResMed by 59.0% during the 2nd quarter. Twin Capital Management Inc. now owns 5,978 shares of the medical equipment provider’s stock worth $1,542,000 after acquiring an additional 2,219 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total value of $520,440.00. Following the transaction, the director owned 62,773 shares in the company, valued at approximately $16,334,790.06. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $273.78, for a total transaction 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 SEC filing for this sale provides additional information. Insiders sold 16,082 shares of company stock worth $4,152,307 in the last 90 days. 0.65% of the stock is owned by company insiders.

ResMed Stock Down 0.9%

NYSE RMD opened at $252.95 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The company has a market cap of $36.85 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 1.69 and a beta of 0.88. The company has a 50 day moving average of $255.22 and a 200-day moving average of $260.21. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81.

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

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s dividend payout ratio is 23.74%.

Analyst Ratings Changes

Several equities research analysts have issued reports on RMD shares. Robert W. Baird set a $281.00 price target on ResMed in a report on Friday, January 30th. Piper Sandler upped their price objective on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Wells Fargo & Company increased their price objective on shares of ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Stifel Nicolaus raised their target price on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Finally, Weiss Ratings raised shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $299.27.

ResMed Company Profile

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.