Second Half Financial Partners LLC Cuts Stock Position in ResMed Inc. (NYSE:RMD)

Second Half Financial Partners LLC lowered its stake in shares of ResMed Inc. (NYSE:RMD) by 52.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,029 shares of the medical equipment provider’s stock after selling 1,115 shares during the period. Second Half Financial Partners LLC’s holdings in ResMed were worth $235,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RMD. First Horizon Advisors Inc. lifted its stake in shares of ResMed by 285.1% during the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after buying an additional 439 shares in the last quarter. Peak Financial Advisors LLC purchased a new position in ResMed during the 4th quarter valued at about $2,972,000. Principal Financial Group Inc. grew its holdings in ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after buying an additional 5,284 shares in the last quarter. Spire Wealth Management grew its stake in ResMed by 11.3% during the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock valued at $2,470,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in ResMed by 2.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock worth $14,105,000 after acquiring an additional 1,629 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 0.1 %

Shares of RMD stock opened at $235.79 on Friday. The company has a market cap of $34.63 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. ResMed Inc. has a 1 year low of $179.42 and a 1 year high of $263.05. The stock’s 50 day simple moving average is $221.92 and its two-hundred day simple moving average is $234.03. 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 (NYSE:RMD) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.37. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, May 8th. ResMed’s dividend payout ratio (DPR) is 23.79%.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now owns 77,218 shares of the company’s stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,327,289.75. The trade was a 50.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,013 shares of company stock worth $11,298,816 in the last three months. 0.71% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on RMD. UBS Group cut their price target on shares of ResMed from $290.00 to $285.00 and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. raised their price target on ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday. Piper Sandler dropped their price target on ResMed from $260.00 to $248.00 and set a “neutral” rating for the company in a research note on Thursday. Stifel Nicolaus dropped their target price on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $258.83.

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.