Dakota Wealth Management Makes New $2.85 Million Investment in ResMed Inc. (NYSE:RMD)

Dakota Wealth Management bought a new stake in shares of ResMed Inc. (NYSE:RMD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,480 shares of the medical equipment provider’s stock, valued at approximately $2,854,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RMD. State Street Corp increased its position in shares of ResMed by 1.9% during the third 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 in the last quarter. Geode Capital Management LLC raised its position in shares of ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after buying an additional 380,383 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of ResMed by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock worth $225,578,000 after buying an additional 13,985 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in ResMed by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock worth $181,237,000 after acquiring an additional 2,406 shares during the last quarter. Finally, Greenvale Capital LLP grew its stake in ResMed by 61.1% during the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after acquiring an additional 275,000 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 0.2 %

NYSE RMD opened at $247.36 on Thursday. The firm has a 50 day simple moving average of $238.35 and a 200-day simple moving average of $233.80. The firm has a market cap of $36.31 billion, a price-to-earnings ratio of 32.76, a PEG ratio of 1.79 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a one year low of $170.56 and a one year high of $260.49.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping 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 the consensus estimate of $1.19 billion. During the same period in the previous year, the company posted $1.64 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts anticipate that ResMed Inc. will post 9.35 EPS for the current fiscal year.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the transaction, the director now owns 81,218 shares in the company, valued at approximately $19,951,201.70. This represents a 2.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Witte Jan De sold 796 shares of the business’s 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 sale, the director now 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,099 shares of company stock valued at $2,719,385. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on RMD shares. Robert W. Baird raised their target price 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. 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. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th. Bank of America boosted their target price on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, KeyCorp raised their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $233.09.

ResMed Company 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.