Crossmark Global Holdings Inc. Sells 891 Shares of ResMed Inc. (NYSE:RMD)

Crossmark Global Holdings Inc. decreased its holdings in shares of ResMed Inc. (NYSE:RMD) by 11.5% during the 4th quarter, Holdings Channel reports. The firm owned 6,843 shares of the medical equipment provider’s stock after selling 891 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in ResMed were worth $1,565,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB boosted its position in shares of ResMed by 1.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 66,597 shares of the medical equipment provider’s stock valued at $15,230,000 after purchasing an additional 1,027 shares in the last quarter. LVW Advisors LLC boosted its position in shares of ResMed by 23.4% during the 4th quarter. LVW Advisors LLC now owns 3,098 shares of the medical equipment provider’s stock valued at $708,000 after purchasing an additional 587 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in shares of ResMed by 25.2% during the 4th quarter. Aaron Wealth Advisors LLC now owns 1,607 shares of the medical equipment provider’s stock valued at $368,000 after purchasing an additional 323 shares in the last quarter. Integrated Investment Consultants LLC bought a new stake in shares of ResMed during the 4th quarter valued at about $1,378,000. Finally, Brooklyn Investment Group boosted its holdings in ResMed by 8.1% in the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock worth $208,000 after acquiring an additional 68 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Activity at ResMed

In other ResMed news, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the sale, the insider now directly owns 21,718 shares of the company’s stock, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, the director now directly owns 81,218 shares of the company’s stock, valued at $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,099 shares of company stock valued at $2,719,385. 0.71% of the stock is owned by insiders.

ResMed Stock Performance

Shares of RMD opened at $248.90 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $36.54 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 1.79 and a beta of 0.70. The stock has a 50 day moving average of $238.59 and a 200 day moving average of $233.90. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $260.49.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $1.64 earnings per share. As a group, sell-side analysts forecast that ResMed Inc. will post 9.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

RMD has been the topic of several recent research reports. Stifel Nicolaus initiated coverage on ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Piper Sandler initiated coverage on ResMed in a report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price target on the stock. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ResMed currently has a consensus rating of “Hold” and an average price target of $233.09.

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.