ICW Investment Advisors LLC Purchases 249 Shares of ResMed Inc. (NYSE:RMD)

ICW Investment Advisors LLC lifted its position in ResMed Inc. (NYSE:RMD) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,303 shares of the medical equipment provider’s stock after acquiring an additional 249 shares during the quarter. ICW Investment Advisors LLC’s holdings in ResMed were worth $1,944,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Morgan Stanley grew its stake in shares of ResMed by 102.4% in the 3rd quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock worth $344,481,000 after acquiring an additional 1,178,547 shares in the last quarter. abrdn plc boosted its holdings in shares of ResMed by 79.2% in the 3rd quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock worth $133,303,000 after buying an additional 398,302 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of ResMed by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 817,176 shares of the medical equipment provider’s stock worth $120,836,000 after buying an additional 2,882 shares during the last quarter. LGT Capital Partners LTD. purchased a new position in shares of ResMed in the 4th quarter worth about $117,621,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of ResMed by 109.9% in the 3rd quarter. Hsbc Holdings PLC now owns 490,214 shares of the medical equipment provider’s stock worth $72,785,000 after buying an additional 256,624 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

RMD has been the topic of a number of research analyst reports. Oppenheimer cut their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Royal Bank of Canada boosted their price target on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Needham & Company LLC boosted their price target on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, April 26th. UBS Group upped their price objective on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Finally, Mizuho reaffirmed a “buy” rating and set a $215.00 price objective on shares of ResMed in a report on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $202.80.

ResMed Price Performance

Shares of ResMed stock traded up $0.68 on Wednesday, reaching $214.67. The stock had a trading volume of 574,560 shares, compared to its average volume of 1,070,085. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $240.09. The company has a market cap of $31.54 billion, a P/E ratio of 32.69, a price-to-earnings-growth ratio of 2.70 and a beta of 0.67. 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 business’s 50 day moving average is $188.47 and its two-hundred day moving average is $173.40.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.22. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. ResMed’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 business earned $1.68 earnings per share. As a group, research analysts anticipate that ResMed Inc. will post 7.55 EPS for the current year.

ResMed Announces Dividend

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

ResMed Profile

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.