Keybank National Association OH lowered its holdings in ResMed Inc. (NYSE:RMD – Free Report) by 8.2% in the first quarter, HoldingsChannel reports. The firm owned 127,697 shares of the medical equipment provider’s stock after selling 11,480 shares during the quarter. Keybank National Association OH’s holdings in ResMed were worth $28,665,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the business. Terra Nova Asset Management LLC lifted its holdings in ResMed by 0.6% during the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after buying an additional 46 shares in the last quarter. Occidental Asset Management LLC increased its position in shares of ResMed by 3.0% during the fourth quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock worth $409,000 after acquiring an additional 49 shares during the period. Kera Capital Partners Inc. increased its position in shares of ResMed by 6.6% during the fourth quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock worth $217,000 after acquiring an additional 52 shares during the period. Andina Capital Management LLC increased its position in shares of ResMed by 2.9% during the fourth quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock worth $479,000 after acquiring an additional 56 shares during the period. Finally, Wedmont Private Capital raised its stake in shares of ResMed by 2.7% in the fourth quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock valued at $542,000 after acquiring an additional 57 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at ResMed
In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $193.96, for a total value of $968,054.36. Following the transaction, the chief executive officer directly owned 466,256 shares in the company, valued at $90,435,013.76. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,973 shares of company stock valued at $3,130,754 over the last three months. Corporate insiders own 0.65% of the company’s stock.
ResMed Stock Down 0.1%
ResMed (NYSE:RMD – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the business posted $2.37 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts forecast that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.
ResMed Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 14th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, May 14th. ResMed’s dividend payout ratio is 23.14%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on RMD shares. Citigroup decreased their target price on ResMed from $340.00 to $270.00 and set a “buy” rating for the company in a report on Monday, June 15th. Wells Fargo & Company reduced their price target on ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Robert W. Baird set a $225.00 price target on ResMed in a research report on Friday, May 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $230.00 price objective (down from $286.00) on shares of ResMed in a research note on Wednesday, June 17th. Finally, Evercore set a $255.00 price objective on ResMed and gave the stock an “outperform” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $270.82.
Read Our Latest Stock Report on ResMed
ResMed Company Profile
ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.
ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.
Featured Stories
- Five stocks we like better than ResMed
- AST SpaceMobile’s Japan Catalyst Puts Its Rollout Story Back in Focus
- Gold and Silver Recovery—3 Precious Metals Stocks for H2 2026
- Klarna’s Google Court Win Could Give Its BNPL Story a Needed Cash Catalyst
- Why Kroger’s Giant Eagle Deal Could Change Everything
Want to see what other hedge funds are holding RMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ResMed Inc. (NYSE:RMD – Free Report).
Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.
