Toronto Dominion Bank Has $11.74 Million Stake in ResMed Inc. (NYSE:RMD)

Toronto Dominion Bank lifted its holdings in ResMed Inc. (NYSE:RMD) by 4.3% during the 4th quarter, Holdings Channel reports. The fund owned 51,349 shares of the medical equipment provider’s stock after acquiring an additional 2,099 shares during the quarter. Toronto Dominion Bank’s holdings in ResMed were worth $11,743,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of RMD. Colonial Trust Co SC grew its holdings in shares of ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 125 shares during the last quarter. Optiver Holding B.V. acquired a new stake in ResMed in the 4th quarter valued at about $33,000. Itau Unibanco Holding S.A. increased its position in ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of ResMed during the fourth quarter worth approximately $39,000. Finally, Coppell Advisory Solutions LLC grew its stake in shares of ResMed by 1,750.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 175 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RMD has been the subject of a number of research reports. Mizuho set a $265.00 price target on shares of ResMed in a report on Wednesday, April 16th. JPMorgan Chase & Co. increased their price objective on ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Piper Sandler dropped their target price on ResMed from $260.00 to $248.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Morgan Stanley assumed coverage on ResMed in a research note on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price target on the stock. Finally, Stifel Nicolaus lowered their price objective on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $258.83.

ResMed Trading Down 2.0%

NYSE RMD opened at $248.16 on Wednesday. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05. The stock has a 50-day simple moving average of $226.57 and a 200 day simple moving average of $234.27. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $36.39 billion, a PE ratio of 29.30, a P/E/G ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.13 EPS. Research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.85%. The ex-dividend date is Thursday, May 8th. ResMed’s payout ratio is presently 23.79%.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total transaction of $455,420.00. Following the transaction, the director now directly owns 75,218 shares in the company, valued at approximately $17,127,890.78. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total value of $1,948,029.07. Following the completion of the transaction, the chief executive officer now directly owns 455,503 shares of the company’s stock, valued at approximately $110,791,994.69. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,949 shares of company stock worth $11,335,320. Company insiders own 0.71% of the company’s stock.

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.