Apriem Advisors Lowers Holdings in ResMed Inc. $RMD

Apriem Advisors reduced its stake in shares of ResMed Inc. (NYSE:RMD) by 8.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,152 shares of the medical equipment provider’s stock after selling 2,891 shares during the period. Apriem Advisors’ holdings in ResMed were worth $8,527,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. SJS Investment Consulting Inc. increased its position in ResMed by 1,433.3% during the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 86 shares during the last quarter. WFA of San Diego LLC purchased a new stake in shares of ResMed during the 2nd quarter valued at $26,000. Westside Investment Management Inc. increased its holdings in shares of ResMed by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 66 shares during the last quarter. GoalVest Advisory LLC purchased a new position in shares of ResMed in the 3rd quarter worth $37,000. Finally, IMA Advisory Services Inc. raised its position in shares of 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 buying an additional 48 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Price Performance

RMD opened at $260.97 on Tuesday. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The firm has a market cap of $38.02 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 1.72 and a beta of 0.87. 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 fifty day simple moving average of $253.32 and a 200 day simple moving average of $261.72.

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

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is 23.74%.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total value of $502,620.00. Following the transaction, the director directly owned 64,773 shares of the company’s stock, valued at $16,278,102.63. This represents a 3.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $127,642,532.94. This trade represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,082 shares of company stock worth $4,134,807 over the last 90 days. 0.65% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research reports. Wall Street Zen raised ResMed from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. UBS Group reissued a “buy” rating and set a $345.00 target price on shares of ResMed in a research report on Friday, December 12th. Piper Sandler raised their price target on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Weiss Ratings raised shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Finally, Wells Fargo & Company increased their price objective on shares of ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. One investment 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’s stock. According to data from MarketBeat.com, the company currently has a consensus 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.