Csenge Advisory Group Invests $1.08 Million in ResMed Inc. $RMD

Csenge Advisory Group acquired a new position in ResMed Inc. (NYSE:RMD) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 4,497 shares of the medical equipment provider’s stock, valued at approximately $1,083,000.

Several other institutional investors have also recently made changes to their positions in RMD. Jones Financial Companies Lllp raised its stake in shares of ResMed by 52.6% in the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock worth $645,000 after buying an additional 994 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of ResMed in the second quarter worth about $389,000. Brown Advisory Inc. raised its stake in shares of ResMed by 17.8% in the second quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock worth $409,000 after buying an additional 240 shares during the period. Cresset Asset Management LLC bought a new position in shares of ResMed in the second quarter worth about $206,000. Finally, Alliancebernstein L.P. raised its stake in shares of ResMed by 24.2% in the second quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock worth $73,808,000 after buying an additional 55,790 shares during the period. Institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RMD shares. Wells Fargo & Company decreased their price objective on ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Piper Sandler raised their price objective on ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Citigroup decreased their price objective on ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. KeyCorp cut their target price on ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. assumed coverage on ResMed in a research report on Wednesday, April 15th. They set an “overweight” rating for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $286.18.

ResMed Stock Performance

NYSE:RMD opened at $209.99 on Thursday. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 12-month low of $198.61 and a 12-month high of $293.81. The stock has a 50-day moving average price of $221.14 and a 200 day moving average price of $241.42. The stock has a market capitalization of $30.59 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.32 and a beta of 0.84.

ResMed (NYSE:RMD) last released its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the business posted $2.37 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. Equities research analysts forecast that ResMed Inc. will post 11.13 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is currently 23.14%.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $251.03, for a total value of $1,252,890.73. Following the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at $117,035,959.69. This represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,973 shares of company stock valued at $4,386,031 in the last 90 days. 0.65% of the stock is currently owned by company insiders.

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.