Alliance Wealth Advisors LLC UT Increases Stock Holdings in ResMed Inc. (NYSE:RMD)

Alliance Wealth Advisors LLC UT lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 5.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,567 shares of the medical equipment provider’s stock after acquiring an additional 88 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in ResMed were worth $270,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Morgan Stanley grew its holdings in shares of ResMed by 102.4% during the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock worth $344,481,000 after purchasing an additional 1,178,547 shares during the last quarter. LGT Capital Partners LTD. purchased a new position in ResMed during the 4th quarter worth approximately $117,621,000. abrdn plc increased its position in ResMed by 79.2% during the third quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock worth $133,303,000 after buying an additional 398,302 shares during the period. Hsbc Holdings PLC lifted its stake in ResMed by 109.9% in the third quarter. Hsbc Holdings PLC now owns 490,214 shares of the medical equipment provider’s stock valued at $72,785,000 after buying an additional 256,624 shares during the last quarter. Finally, UBS Group AG lifted its stake in ResMed by 109.3% in the third quarter. UBS Group AG now owns 457,717 shares of the medical equipment provider’s stock valued at $67,683,000 after buying an additional 239,001 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Michael J. Rider sold 200 shares of ResMed 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 completion of the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the transaction, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,216 shares of company stock worth $2,046,617. 1.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RMD. Oppenheimer lowered their target price on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday. Royal Bank of Canada raised their price objective on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday. JPMorgan Chase & Co. upped their target price on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Needham & Company LLC increased 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. Finally, Mizuho restated a “buy” rating and issued a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.80.

ResMed Price Performance

Shares of ResMed stock traded up $34.64 during trading on Friday, reaching $218.06. The company’s stock had a trading volume of 4,330,840 shares, compared to its average volume of 1,052,924. The business has a 50 day moving average price of $187.07 and a 200-day moving average price of $172.12. The company has a market capitalization of $32.07 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 2.68 and a beta of 0.67. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $243.52.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.92%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the business posted $1.68 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that ResMed Inc. will post 7.52 EPS for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 annualized dividend and a yield of 0.88%. ResMed’s dividend payout ratio is presently 29.49%.

ResMed Profile

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.