Carnegie Investment Counsel Has $1.17 Million Stock Position in ResMed Inc. (NYSE:RMD)

Carnegie Investment Counsel cut its stake in ResMed Inc. (NYSE:RMD) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,130 shares of the medical equipment provider’s stock after selling 75 shares during the period. Carnegie Investment Counsel’s holdings in ResMed were worth $1,173,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp grew its position in ResMed by 1.9% during the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after acquiring an additional 116,918 shares during the last quarter. Geode Capital Management LLC boosted its stake in ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after purchasing an additional 380,383 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of ResMed by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock worth $225,578,000 after purchasing an additional 13,985 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of ResMed by 0.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock valued at $181,237,000 after buying an additional 2,406 shares in the last quarter. Finally, Greenvale Capital LLP raised its holdings in shares of ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after buying an additional 275,000 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 1.2 %

RMD opened at $239.89 on Friday. ResMed Inc. has a twelve month low of $170.39 and a twelve month high of $260.49. The firm has a market cap of $35.22 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The firm’s fifty day moving average is $238.51 and its two-hundred day moving average is $232.77.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the firm earned $1.64 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. Equities research analysts anticipate that ResMed Inc. will post 9.36 EPS for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Thursday, November 7th. ResMed’s payout ratio is presently 28.08%.

Insiders Place Their Bets

In related news, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 owns 81,218 shares in the company, valued at $19,951,201.70. The trade was a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,099 shares of company stock worth $2,719,385. Corporate insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RMD. Royal Bank of Canada increased their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Piper Sandler started coverage on shares of ResMed in a report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price target for the company. Robert W. Baird upped their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Baird R W raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, The Goldman Sachs Group started coverage on ResMed in a research note on Thursday. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $233.09.

ResMed Company 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.