ResMed Inc. (NYSE:RMD) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC lessened its position in shares of ResMed Inc. (NYSE:RMD) by 6.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,465 shares of the medical equipment provider’s stock after selling 1,668 shares during the quarter. Perigon Wealth Management LLC’s holdings in ResMed were worth $5,327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in ResMed by 52.3% during the fourth quarter. Pacer Advisors Inc. now owns 44,692 shares of the medical equipment provider’s stock worth $10,221,000 after purchasing an additional 15,345 shares during the last quarter. KBC Group NV raised its holdings in shares of ResMed by 2.1% during the fourth quarter. KBC Group NV now owns 74,253 shares of the medical equipment provider’s stock worth $16,981,000 after purchasing an additional 1,522 shares during the period. Blue Trust Inc. lifted its position in shares of ResMed by 43.1% in the 4th quarter. Blue Trust Inc. now owns 1,394 shares of the medical equipment provider’s stock worth $340,000 after buying an additional 420 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of ResMed in the 4th quarter valued at about $236,000. Finally, Linden Thomas Advisory Services LLC grew its position in shares of ResMed by 3.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 15,377 shares of the medical equipment provider’s stock valued at $3,517,000 after buying an additional 462 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on RMD. KeyCorp upped their target price on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird boosted their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Piper Sandler assumed coverage on shares of ResMed in a report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price objective on the stock. Finally, Stifel Nicolaus started coverage on shares of ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $238.40.

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the transaction, the director now owns 81,218 shares in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the sale, the insider now owns 21,718 shares in the company, valued at $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,099 shares of company stock valued at $2,719,385. Corporate insiders own 0.71% of the company’s stock.

ResMed Price Performance

Shares of NYSE:RMD opened at $250.03 on Wednesday. The stock has a market cap of $36.70 billion, a price-to-earnings ratio of 33.12, a PEG ratio of 1.78 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $260.49. The stock’s 50 day moving average price is $239.56 and its 200 day moving average price is $235.40.

ResMed Company 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.