National Bank of Canada FI Decreases Stock Position in ResMed Inc. (NYSE:RMD)

National Bank of Canada FI trimmed its holdings in shares of ResMed Inc. (NYSE:RMD) by 42.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,121 shares of the medical equipment provider’s stock after selling 28,530 shares during the period. National Bank of Canada FI’s holdings in ResMed were worth $8,718,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. OFI Invest Asset Management purchased a new stake in shares of ResMed during the fourth quarter valued at $39,000. BankPlus Trust Department bought a new position in ResMed during the 4th quarter valued at about $44,000. Rosenberg Matthew Hamilton purchased a new stake in shares of ResMed during the 4th quarter valued at about $54,000. SBI Securities Co. Ltd. bought a new stake in shares of ResMed in the fourth quarter worth approximately $67,000. Finally, Kentucky Trust Co purchased a new position in shares of ResMed during the fourth quarter valued at approximately $82,000. 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 ResMed stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now directly owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,004 shares of company stock valued at $9,618,128. 0.71% of the stock is currently owned by corporate insiders.

ResMed Stock Down 4.0 %

RMD opened at $204.72 on Friday. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock has a market cap of $30.07 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The firm’s fifty day moving average is $230.74 and its 200 day moving average is $236.95.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) 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%. On average, sell-side 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 20th. Stockholders of record on Thursday, February 13th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

Analysts Set New Price Targets

Several brokerages recently issued reports on RMD. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Morgan Stanley started coverage on ResMed in a report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price objective for the company. The Goldman Sachs Group began coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. Piper Sandler boosted their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Stifel Nicolaus lowered their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $249.73.

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.