ResMed Inc. (NYSE:RMD) Stock Holdings Increased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its position in ResMed Inc. (NYSE:RMD) by 63.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,969 shares of the medical equipment provider’s stock after buying an additional 3,853 shares during the period. Axxcess Wealth Management LLC’s holdings in ResMed were worth $2,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC raised its stake in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of ResMed in the 4th quarter worth $39,000. BankPlus Trust Department bought a new stake in shares of ResMed in the 4th quarter worth $44,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed in the 4th quarter worth $54,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of ResMed in the 4th quarter worth $67,000. Institutional investors own 54.98% of the company’s stock.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the sale, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. lifted their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $246.83.

ResMed Stock Performance

Shares of RMD stock opened at $222.07 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The stock’s 50-day moving average is $235.48 and its two-hundred day moving average is $239.36. The firm has a market cap of $32.61 billion, a P/E ratio of 26.22, a PEG ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.95%. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.