Impact Partnership Wealth LLC Purchases Shares of 2,208 ResMed Inc. (NYSE:RMD)

Impact Partnership Wealth LLC acquired a new position in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,208 shares of the medical equipment provider’s stock, valued at approximately $505,000.

Several other institutional investors have also modified their holdings of RMD. True Wealth Design LLC raised its position in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in ResMed during the third quarter valued at approximately $34,000. Rosenberg Matthew Hamilton bought a new stake in ResMed during the fourth quarter worth approximately $54,000. Capital Performance Advisors LLP acquired a new position in ResMed in the third quarter worth approximately $60,000. Finally, Quarry LP increased its holdings in shares of ResMed by 271.9% in the second quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 242 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RMD. Piper Sandler initiated coverage on ResMed in a research note on Friday, January 10th. They set a “neutral” rating and a $252.00 price objective for the company. Robert W. Baird increased their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. KeyCorp boosted their price objective on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Bank of America raised their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada boosted their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $233.09.

Insiders Place Their Bets

In related news, insider Justin Leong sold 6,160 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the transaction, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,099 shares of company stock valued at $2,719,385 in the last three months. Insiders own 0.71% of the company’s stock.

ResMed Stock Up 0.6 %

RMD stock opened at $248.90 on Friday. The company has a 50 day moving average of $238.59 and a two-hundred day moving average of $233.90. The company has a market cap of $36.54 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 1.78 and a beta of 0.70. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $260.49. 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 (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the company earned $1.64 earnings per share. ResMed’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts anticipate that ResMed Inc. will post 9.35 earnings per share for the current fiscal year.

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.