LVW Advisors LLC Grows Stake in ResMed Inc. (NYSE:RMD)

LVW Advisors LLC grew its holdings in ResMed Inc. (NYSE:RMD) by 23.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,098 shares of the medical equipment provider’s stock after acquiring an additional 587 shares during the quarter. LVW Advisors LLC’s holdings in ResMed were worth $708,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC increased its holdings 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 valued at $28,000 after acquiring an additional 110 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of ResMed in the 3rd quarter valued at about $34,000. Rosenberg Matthew Hamilton purchased a new position in shares of ResMed in the 4th quarter valued at about $54,000. Capital Performance Advisors LLP purchased a new position in ResMed during the 3rd quarter worth approximately $60,000. Finally, Quarry LP grew its stake in ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 242 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of research reports. Piper Sandler initiated coverage on ResMed in a research note on Friday, January 10th. They set a “neutral” rating and a $252.00 price target on the stock. The Goldman Sachs Group initiated coverage on ResMed in a research note on Thursday. They set a “buy” rating on the stock. Stifel Nicolaus initiated coverage on ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price target on the stock. Bank of America raised their price target on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada raised their price target on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $233.09.

Insider Activity

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

ResMed Stock Up 1.2 %

RMD opened at $239.89 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The business has a 50 day simple moving average of $238.51 and a 200-day simple moving average of $233.07. The stock has a market capitalization of $35.22 billion, a P/E ratio of 31.77, a P/E/G ratio of 1.69 and a beta of 0.70. ResMed Inc. has a 12 month low of $170.39 and a 12 month high of $260.49.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.64 EPS. On average, equities analysts anticipate that ResMed Inc. will post 9.36 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. ResMed’s dividend payout ratio is currently 28.08%.

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.