Harfst & Associates Inc. Sells 200 Shares of ResMed Inc. (NYSE:RMD)

Harfst & Associates Inc. trimmed its position in ResMed Inc. (NYSE:RMD) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,701 shares of the medical equipment provider’s stock after selling 200 shares during the period. ResMed makes up approximately 0.6% of Harfst & Associates Inc.’s portfolio, making the stock its 29th biggest position. Harfst & Associates Inc.’s holdings in ResMed were worth $2,676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RMD. True Wealth Design LLC increased its position in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in ResMed in the 3rd quarter valued at about $34,000. BankPlus Trust Department bought a new stake in ResMed in the 4th quarter valued at about $44,000. Rosenberg Matthew Hamilton bought a new stake in ResMed in the 4th quarter valued at about $54,000. Finally, Capital Performance Advisors LLP bought a new stake in ResMed in the 3rd quarter valued at about $60,000. 54.98% of the stock is owned by institutional investors.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the transaction, the director now directly owns 81,218 shares in the company, valued at $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 have sold a total of 12,147 shares of company stock valued at $2,905,745 over the last 90 days. 0.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RMD. Piper Sandler boosted their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. KeyCorp boosted their price objective on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group began coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. Finally, UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.73.

ResMed Trading Down 0.7 %

NYSE:RMD opened at $234.46 on Thursday. The company has a market cap of $34.43 billion, a P/E ratio of 27.68, a P/E/G ratio of 1.53 and a beta of 0.70. The stock’s fifty day moving average price is $237.15 and its two-hundred day moving average price is $239.62. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. ResMed’s dividend payout ratio 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.