Maridea Wealth Management LLC Invests $481,000 in ResMed Inc. (NYSE:RMD)

Maridea Wealth Management LLC bought a new stake in shares of ResMed Inc. (NYSE:RMD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,105 shares of the medical equipment provider’s stock, valued at approximately $481,000.

Several other institutional investors and hedge funds have also bought and sold shares of RMD. Horizon Investment Services LLC purchased a new stake in shares of ResMed during the fourth quarter valued at approximately $1,611,000. DnB Asset Management AS raised its holdings in ResMed by 6.9% during the 4th quarter. DnB Asset Management AS now owns 26,702 shares of the medical equipment provider’s stock valued at $6,106,000 after buying an additional 1,729 shares during the last quarter. denkapparat Operations GmbH purchased a new stake in ResMed during the 4th quarter valued at $313,000. Nomura Asset Management Co. Ltd. increased its position in shares of ResMed by 0.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 43,244 shares of the medical equipment provider’s stock valued at $9,889,000 after acquiring an additional 335 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in shares of ResMed during the fourth quarter valued at about $2,288,000. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RMD. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Piper Sandler boosted their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. KeyCorp raised their price objective on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price target on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $249.73.

ResMed Stock Performance

RMD stock opened at $219.85 on Friday. The stock’s 50 day simple moving average is $233.70 and its 200 day simple moving average is $238.23. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05. The stock has a market capitalization of $32.29 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, 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 announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.96%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio is currently 25.03%.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This represents a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock valued at $9,164,385 in the last 90 days. 0.71% of the stock is currently owned by insiders.

ResMed 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.