GraniteShares Advisors LLC Has $58,000 Stock Holdings in ResMed Inc. $RMD

GraniteShares Advisors LLC lessened its position in ResMed Inc. (NYSE:RMD) by 90.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 241 shares of the medical equipment provider’s stock after selling 2,336 shares during the quarter. GraniteShares Advisors LLC’s holdings in ResMed were worth $58,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in RMD. First Trust Advisors LP increased its position in ResMed by 285.1% during the third quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider’s stock worth $121,864,000 after acquiring an additional 329,588 shares during the period. Marshall Wace LLP raised its stake in ResMed by 2,373.1% during the third quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider’s stock worth $85,126,000 after acquiring an additional 298,412 shares in the last quarter. Nordea Investment Management AB lifted its holdings in ResMed by 37.2% during the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after purchasing an additional 294,124 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of ResMed by 1.6% in the third quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock valued at $5,211,940,000 after acquiring an additional 293,515 shares during the last quarter. Finally, Giverny Capital Inc. bought a new position in ResMed in the 3rd quarter valued at $64,441,000. 54.98% of the stock is owned by institutional investors.

ResMed Price Performance

Shares of RMD opened at $224.23 on Friday. The company has a market cap of $32.67 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.49 and a beta of 0.93. The company’s fifty day simple moving average is $246.52 and its 200 day simple moving average is $253.28. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last issued its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.13. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. ResMed’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the business posted $2.43 EPS. On average, research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. ResMed’s dividend payout ratio is presently 23.74%.

Analyst Ratings Changes

A number of equities analysts have weighed in on RMD shares. Weiss Ratings downgraded shares of ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Wall Street Zen cut ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. KeyCorp reissued an “overweight” rating and set a $302.00 price target on shares of ResMed in a research report on Friday, January 30th. Robert W. Baird set a $281.00 price objective on ResMed in a research report on Friday, January 30th. Finally, Citigroup upped their target price on shares of ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $299.27.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the transaction, the chief executive officer owned 466,223 shares in the company, valued at approximately $117,035,959.69. The trade was a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,023 shares of company stock valued at $5,843,111 over the last 90 days. Company 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.