ResMed Inc. (NYSE:RMD) Shares Bought by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC lifted its position in shares of ResMed Inc. (NYSE:RMD) by 13.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,730 shares of the medical equipment provider’s stock after buying an additional 322 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in ResMed were worth $470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Morgan Stanley increased its holdings in ResMed by 102.4% in the 3rd quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock valued at $344,481,000 after purchasing an additional 1,178,547 shares during the last quarter. LGT Capital Partners LTD. acquired a new stake in shares of ResMed in the fourth quarter valued at $117,621,000. abrdn plc raised its holdings in shares of ResMed by 79.2% in the 3rd quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock valued at $133,303,000 after buying an additional 398,302 shares during the period. Hsbc Holdings PLC lifted its stake in ResMed by 109.9% during the 3rd quarter. Hsbc Holdings PLC now owns 490,214 shares of the medical equipment provider’s stock worth $72,785,000 after acquiring an additional 256,624 shares in the last quarter. Finally, UBS Group AG grew its position in ResMed by 109.3% in the 3rd quarter. UBS Group AG now owns 457,717 shares of the medical equipment provider’s stock valued at $67,683,000 after acquiring an additional 239,001 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

Shares of RMD traded down $3.27 on Wednesday, reaching $212.89. The stock had a trading volume of 993,126 shares, compared to its average volume of 1,068,586. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $237.26. The firm has a market capitalization of $31.28 billion, a PE ratio of 32.70, a PEG ratio of 2.68 and a beta of 0.64. The firm has a 50-day moving average of $192.67 and a 200 day moving average of $176.28. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.22. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. ResMed’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.68 earnings per share. Sell-side analysts expect that ResMed Inc. will post 7.59 EPS for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 annualized dividend and a yield of 0.90%. ResMed’s dividend payout ratio (DPR) is currently 29.49%.

Insiders Place Their Bets

In other news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karen Drexler sold 425 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the completion of the transaction, the director now directly owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,641 shares of company stock worth $2,137,958. Insiders own 1.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Oppenheimer reduced their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. JPMorgan Chase & Co. upped their price objective on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Royal Bank of Canada lifted their target price on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Mizuho reaffirmed a “buy” rating and set a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. Finally, Needham & Company LLC raised their target price on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.80.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.