Moss Adams Wealth Advisors LLC Buys 322 Shares of ResMed Inc. (NYSE:RMD)

Moss Adams Wealth Advisors LLC lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 13.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,730 shares of the medical equipment provider’s stock after acquiring an additional 322 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in ResMed were worth $470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of RMD. Morgan Stanley boosted its position in ResMed by 102.4% during the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock valued at $344,481,000 after acquiring an additional 1,178,547 shares during the last quarter. abrdn plc lifted its position in shares of ResMed by 79.2% during the 3rd quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock valued at $133,303,000 after acquiring an additional 398,302 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in ResMed by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 863,289 shares of the medical equipment provider’s stock worth $148,503,000 after acquiring an additional 46,113 shares in the last quarter. LGT Capital Partners LTD. bought a new position in shares of ResMed during the 4th quarter worth about $117,621,000. Finally, Hsbc Holdings PLC grew its stake in ResMed by 109.9% in the third quarter. Hsbc Holdings PLC now owns 490,214 shares of the medical equipment provider’s stock valued at $72,785,000 after acquiring an additional 256,624 shares during the period. 54.98% of the stock is owned by institutional investors.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders sold a total of 11,641 shares of company stock worth $2,137,958 over the last three months. Company insiders own 1.21% of the company’s stock.

ResMed Price Performance

Shares of ResMed stock traded down $3.27 on Wednesday, hitting $212.89. 993,126 shares of the company traded hands, compared to its average volume of 1,068,586. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $237.26. The firm’s 50-day simple moving average is $192.67 and its 200 day simple moving average is $176.28. The company has a market cap of $31.28 billion, a P/E ratio of 32.70, a P/E/G ratio of 2.68 and a beta of 0.64. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.22. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 earnings per share. Analysts expect that ResMed Inc. will post 7.59 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be issued a $0.48 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.90%. ResMed’s payout ratio is 29.49%.

Analyst Ratings Changes

Several brokerages have recently commented on RMD. KeyCorp increased their price objective on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. UBS Group upped their price target on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Needham & Company LLC lifted their price objective on shares of ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Finally, Oppenheimer cut their price target on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.80.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.