Federated Hermes Inc. Decreases Stock Holdings in ResMed Inc. (NYSE:RMD)

Federated Hermes Inc. cut its holdings in ResMed Inc. (NYSE:RMD) by 81.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 162 shares of the medical equipment provider’s stock after selling 715 shares during the quarter. Federated Hermes Inc.’s holdings in ResMed were worth $28,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its position in shares of ResMed by 52.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,442 shares of the medical equipment provider’s stock valued at $805,000 after buying an additional 1,863 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of ResMed by 11.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,017 shares of the medical equipment provider’s stock valued at $7,692,000 after purchasing an additional 5,457 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of ResMed by 12.6% in the 3rd quarter. Mackenzie Financial Corp now owns 151,505 shares of the medical equipment provider’s stock worth $21,906,000 after purchasing an additional 16,966 shares during the period. IFM Investors Pty Ltd increased its position in shares of ResMed by 3.2% during the 3rd quarter. IFM Investors Pty Ltd now owns 29,262 shares of the medical equipment provider’s stock valued at $4,327,000 after purchasing an additional 914 shares during the last quarter. Finally, Washington Capital Management Inc. bought a new position in shares of ResMed during the 3rd quarter valued at approximately $325,000. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

Shares of RMD stock opened at $216.16 on Wednesday. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $237.26. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $191.90 and a two-hundred day simple moving average of $176.02. The stock has a market capitalization of $31.76 billion, a price-to-earnings ratio of 33.20, a P/E/G ratio of 2.68 and a beta of 0.64.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.68 earnings per share. On average, analysts predict that ResMed Inc. will post 7.59 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s payout ratio is 29.49%.

Analyst Ratings Changes

Several research analysts have commented on RMD shares. Royal Bank of Canada lifted their price objective on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Mizuho reiterated a “buy” rating and set a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. UBS Group raised their price objective on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. KeyCorp upped their target price on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Finally, Oppenheimer decreased their price target on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average target price of $202.80.

Insiders Place Their Bets

In other news, Director Karen Drexler sold 425 shares of ResMed stock in a transaction on 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 directly owns 8,446 shares in the company, valued at approximately $1,815,214.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Karen Drexler sold 425 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total value of $91,341.00. Following the sale, the director now directly owns 8,446 shares in the company, valued at approximately $1,815,214.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Insiders sold a total of 11,641 shares of company stock worth $2,137,958 over the last 90 days. Company insiders own 1.21% of the company’s stock.

About ResMed

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.