Inspire Investing LLC Has $5.06 Million Stake in ResMed Inc. (NYSE:RMD)

Inspire Investing LLC trimmed its holdings in shares of ResMed Inc. (NYSE:RMD) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,106 shares of the medical equipment provider’s stock after selling 485 shares during the period. Inspire Investing LLC’s holdings in ResMed were worth $5,056,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMD. True Wealth Design LLC increased its holdings in ResMed by 2,200.0% during 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 in the last quarter. Ashton Thomas Securities LLC acquired a new stake in ResMed during the 3rd quarter valued at $34,000. Rosenberg Matthew Hamilton acquired a new stake in ResMed during the 4th quarter valued at $54,000. Capital Performance Advisors LLP acquired a new stake in ResMed during the 3rd quarter valued at $60,000. Finally, Quarry LP increased its holdings in ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 242 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Down 0.2 %

Shares of ResMed stock opened at $247.36 on Thursday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $260.49. The business has a fifty day simple moving average of $238.59 and a 200 day simple moving average of $233.90. The stock has a market cap of $36.31 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 1.79 and a beta of 0.70.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus started coverage on ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price target for the company. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Piper Sandler started coverage on ResMed in a research note on Friday, January 10th. They issued a “neutral” rating and a $252.00 target price for the company. Robert W. Baird lifted their target price on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, KeyCorp lifted their target price on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $233.09.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total value of $497,480.00. Following the sale, the director now directly owns 83,204 shares in the company, valued at $20,696,162.96. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,099 shares of company stock worth $2,719,385. Corporate insiders own 0.71% of the company’s stock.

About ResMed

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.