Mirabella Financial Services LLP Buys 5,562 Shares of ResMed Inc. $RMD

Mirabella Financial Services LLP raised its stake in ResMed Inc. (NYSE:RMD) by 203.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,302 shares of the medical equipment provider’s stock after buying an additional 5,562 shares during the period. Mirabella Financial Services LLP’s holdings in ResMed were worth $2,268,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RMD. SJS Investment Consulting Inc. boosted its holdings in shares of ResMed by 1,433.3% in the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 86 shares during the period. WFA of San Diego LLC purchased a new position in ResMed during the 2nd quarter worth $26,000. Imprint Wealth LLC purchased a new position in ResMed during the 3rd quarter worth $26,000. Westside Investment Management Inc. raised its position in ResMed by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 66 shares in the last quarter. Finally, GoalVest Advisory LLC bought a new stake in ResMed during the 3rd quarter valued at $37,000. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings upgraded ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Piper Sandler upped their price objective on shares of ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. UBS Group reissued a “buy” rating and set a $345.00 target price on shares of ResMed in a research report on Friday, December 12th. Finally, KeyCorp restated an “overweight” rating and issued a $302.00 price target on shares of ResMed in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $299.27.

ResMed Trading Down 0.0%

Shares of NYSE:RMD opened at $230.80 on Tuesday. The company has a market capitalization of $33.62 billion, a PE ratio of 22.83, a P/E/G ratio of 1.53 and a beta of 0.88. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The business’s fifty day simple moving average is $254.76 and its 200-day simple moving average is $257.89.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company earned $2.43 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s dividend payout ratio is presently 23.74%.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $260.22, for a total transaction of $520,440.00. Following the completion of the transaction, the director owned 62,773 shares in the company, valued at $16,334,790.06. The trade was a 3.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $117,035,959.69. The trade was a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,073 shares of company stock worth $5,405,198 over the last 90 days. Company insiders own 0.65% of the company’s stock.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.