Axxcess Wealth Management LLC Has $2.25 Million Holdings in ResMed Inc. (NYSE:RMD)

Axxcess Wealth Management LLC increased its stake in shares of ResMed Inc. (NYSE:RMD) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,071 shares of the medical equipment provider’s stock after purchasing an additional 832 shares during the period. Axxcess Wealth Management LLC’s holdings in ResMed were worth $2,249,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of ResMed by 224.6% during the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 128 shares during the period. Planned Solutions Inc. acquired a new position in ResMed in the fourth quarter valued at about $34,000. MV Capital Management Inc. grew its stake in ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 60 shares during the period. Operose Advisors LLC acquired a new position in ResMed in the third quarter valued at about $32,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in ResMed in the fourth quarter valued at about $45,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now 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 at this hyperlink. In other news, Director Karen Drexler sold 425 shares of ResMed stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the transaction, the director now owns 8,446 shares in the company, valued at $1,815,214.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction dated 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 transaction, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold 11,641 shares of company stock valued at $2,137,958 in the last 90 days. 1.21% of the stock is currently owned by company insiders.

ResMed Price Performance

NYSE:RMD traded down $1.17 during trading hours on Friday, reaching $216.98. 655,018 shares of the company were exchanged, compared to its average volume of 1,339,844. The business has a 50 day moving average of $190.52 and a 200 day moving average of $174.76. The company has a market capitalization of $31.88 billion, a P/E ratio of 33.33, a P/E/G ratio of 2.68 and a beta of 0.64. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $237.26. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97.

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

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors 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 0.88%. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RMD shares. UBS Group upped their price objective on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Mizuho reiterated a “buy” rating and set a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. Oppenheimer dropped their target price on ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. JPMorgan Chase & Co. upped their target price on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Finally, Needham & Company LLC upped their target price on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, ResMed 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.