Concurrent Investment Advisors LLC Reduces Stake in ResMed Inc. (NYSE:RMD)

Concurrent Investment Advisors LLC lowered its position in ResMed Inc. (NYSE:RMD) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,811 shares of the medical equipment provider’s stock after selling 108 shares during the period. Concurrent Investment Advisors LLC’s holdings in ResMed were worth $414,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Ascent Group LLC boosted its position in ResMed by 1.7% in the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after buying an additional 48 shares during the last quarter. SkyView Investment Advisors LLC boosted its position in ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares in the last quarter. Wedmont Private Capital boosted its position in ResMed by 2.6% in the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after purchasing an additional 52 shares in the last quarter. Brooklyn Investment Group boosted its position in ResMed by 8.1% in the 4th quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock worth $208,000 after purchasing an additional 68 shares in the last quarter. Finally, Miracle Mile Advisors LLC boosted its position in ResMed by 9.2% in the 4th quarter. Miracle Mile Advisors LLC now owns 917 shares of the medical equipment provider’s stock worth $210,000 after purchasing an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on RMD shares. KeyCorp upped their price objective on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Piper Sandler upped their price objective on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Finally, Stifel Nicolaus started coverage on ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 8,009 shares of the business’s 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 in the company, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,147 shares of company stock valued at $2,905,745 in the last three months. 0.71% of the stock is currently owned by insiders.

ResMed Stock Down 1.0 %

Shares of RMD opened at $229.47 on Tuesday. ResMed Inc. has a 52-week low of $170.56 and a 52-week high of $263.05. The company has a market capitalization of $33.70 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. The stock has a fifty day simple moving average of $237.20 and a two-hundred day simple moving average of $239.52. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, equities analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. 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.