Peloton Wealth Strategists Decreases Stock Holdings in ResMed Inc. (NYSE:RMD)

Peloton Wealth Strategists trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 46.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,225 shares of the medical equipment provider’s stock after selling 1,960 shares during the quarter. Peloton Wealth Strategists’ holdings in ResMed were worth $509,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RMD. True Wealth Design LLC raised its position in shares of 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 purchasing an additional 110 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of ResMed in the 3rd quarter valued at approximately $34,000. BankPlus Trust Department purchased a new position in shares of ResMed in the 4th quarter valued at approximately $44,000. Rosenberg Matthew Hamilton purchased a new position in shares of ResMed in the 4th quarter valued at approximately $54,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of ResMed in the 3rd quarter valued at approximately $60,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on 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 owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,147 shares of company stock worth $2,905,745. Corporate insiders own 0.71% of the company’s stock.

ResMed Price Performance

ResMed stock opened at $231.03 on Friday. The company’s fifty day moving average price is $237.14 and its 200 day moving average price is $239.56. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05. The stock has a market capitalization of $33.93 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.53 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating 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 research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company 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 $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 0.92%. ResMed’s payout ratio is currently 25.03%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. Piper Sandler increased their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Finally, Stifel Nicolaus began coverage on shares of ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

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.