Manchester Capital Management LLC Acquires 211 Shares of ResMed Inc. (NYSE:RMD)

Manchester Capital Management LLC raised its holdings in shares of ResMed Inc. (NYSE:RMD) by 41.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 717 shares of the medical equipment provider’s stock after buying an additional 211 shares during the period. Manchester Capital Management LLC’s holdings in ResMed were worth $164,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nations Financial Group Inc. IA ADV bought a new stake in ResMed during the 4th quarter valued at $1,996,000. AustralianSuper Pty Ltd increased its stake in ResMed by 3,266.5% during the 4th quarter. AustralianSuper Pty Ltd now owns 103,923 shares of the medical equipment provider’s stock valued at $23,766,000 after purchasing an additional 100,836 shares in the last quarter. New York State Teachers Retirement System increased its stake in ResMed by 0.8% during the 4th quarter. New York State Teachers Retirement System now owns 131,971 shares of the medical equipment provider’s stock valued at $30,180,000 after purchasing an additional 1,046 shares in the last quarter. Banque Pictet & Cie SA bought a new stake in shares of ResMed in the 4th quarter worth $4,219,000. Finally, Asset Management One Co. Ltd. grew its stake in shares of ResMed by 2.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock worth $14,105,000 after acquiring an additional 1,629 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,307 shares of company stock valued at $4,403,180 over the last three months. 0.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

RMD has been the subject of several recent analyst reports. Piper Sandler upped their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Stifel Nicolaus initiated coverage on shares of ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 target price for the company. Robert W. Baird upped 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. KeyCorp upped their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group began coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

ResMed Price Performance

NYSE RMD opened at $232.93 on Friday. The company has a market cap of $34.21 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.57 and a beta of 0.70. ResMed Inc. has a 52 week low of $170.56 and a 52 week high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $238.51 and its two-hundred day simple moving average is $238.47.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Research analysts predict that ResMed Inc. will post 9.44 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.91%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

ResMed 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.