Dana Investment Advisors Inc. Sells 4,272 Shares of ResMed Inc. $RMD

Dana Investment Advisors Inc. reduced its stake in ResMed Inc. (NYSE:RMD) by 13.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,724 shares of the medical equipment provider’s stock after selling 4,272 shares during the period. Dana Investment Advisors Inc.’s holdings in ResMed were worth $7,315,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. SJS Investment Consulting Inc. grew its position in ResMed by 1,433.3% in the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 86 shares during the period. WFA of San Diego LLC bought a new stake in shares of ResMed in the 2nd quarter worth about $26,000. Westside Investment Management Inc. increased its position 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 purchasing an additional 66 shares in the last quarter. GoalVest Advisory LLC acquired a new stake in shares of ResMed during the 3rd quarter worth about $37,000. Finally, IMA Advisory Services Inc. lifted its holdings in ResMed by 52.7% during the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 48 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Performance

RMD stock opened at $260.97 on Tuesday. The company has a 50 day moving average price of $253.32 and a 200 day moving average price of $261.72. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The stock has a market capitalization of $38.02 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87.

ResMed (NYSE:RMD) last released its 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 return on equity of 25.20% and a net margin of 27.53%.The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the firm earned $2.43 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders 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 yield of 0.9%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s payout ratio is currently 23.74%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RMD shares. Wells Fargo & Company raised their price objective on shares of ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Royal Bank Of Canada boosted their target price on ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Morgan Stanley set a $305.00 price target on ResMed in a report on Friday, October 31st. Weiss Ratings upgraded ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Finally, Piper Sandler increased their target price on ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $299.27.

Insider Transactions at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were 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. This represents a 3.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $115,837,766.58. This trade represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 16,082 shares of company stock worth $4,134,807. Corporate insiders own 0.65% of the company’s stock.

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.