Marshall Financial Group LLC Sells 296 Shares of ResMed Inc. (NYSE:RMD)

Marshall Financial Group LLC reduced its position in shares of ResMed Inc. (NYSE:RMD) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,527 shares of the medical equipment provider’s stock after selling 296 shares during the quarter. Marshall Financial Group LLC’s holdings in ResMed were worth $2,407,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after buying an additional 380,383 shares during the last quarter. Greenvale Capital LLP increased its stake in ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after acquiring an additional 275,000 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in ResMed by 726.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after purchasing an additional 249,454 shares during the period. Nordea Investment Management AB lifted its stake in shares of ResMed by 92.7% in the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock valued at $103,214,000 after purchasing an additional 215,561 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after purchasing an additional 116,918 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Up 0.6 %

NYSE RMD opened at $250.32 on Friday. The business has a fifty day moving average price of $239.25 and a 200 day moving average price of $234.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The company has a market cap of $36.75 billion, a P/E ratio of 33.15, a P/E/G ratio of 1.78 and a beta of 0.70. ResMed Inc. has a one year low of $170.56 and a one year high of $260.49.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business earned $1.64 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Research analysts anticipate that ResMed Inc. will post 9.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on RMD. Piper Sandler assumed coverage on ResMed in a report on Friday, January 10th. They set a “neutral” rating and a $252.00 price target on the stock. Royal Bank of Canada increased their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Robert W. Baird lifted their price target on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. The Goldman Sachs Group began coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. Finally, Stifel Nicolaus initiated coverage on ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.40.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total transaction of $497,480.00. Following the sale, the director now owns 83,204 shares of the company’s stock, valued at approximately $20,696,162.96. The trade was a 2.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Witte Jan De sold 796 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,099 shares of company stock worth $2,719,385 in the last three months. 0.71% of the stock is owned by corporate insiders.

About ResMed

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.