Savant Capital LLC Increases Stake in ResMed Inc. (NYSE:RMD)

Savant Capital LLC boosted its stake in ResMed Inc. (NYSE:RMD) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,796 shares of the medical equipment provider’s stock after buying an additional 487 shares during the period. Savant Capital LLC’s holdings in ResMed were worth $2,469,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Exchange Traded Concepts LLC bought a new stake in shares of ResMed during the third quarter valued at approximately $119,000. Creative Planning lifted its position in ResMed by 15.4% during the third quarter. Creative Planning now owns 28,021 shares of the medical equipment provider’s stock valued at $6,840,000 after buying an additional 3,739 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of ResMed by 8.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 3,662 shares of the medical equipment provider’s stock valued at $894,000 after buying an additional 288 shares in the last quarter. Indiana Trust & Investment Management Co purchased a new stake in shares of ResMed in the 3rd quarter worth about $98,000. Finally, Hengehold Capital Management LLC bought a new position in shares of ResMed in the 3rd quarter worth about $213,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Down 0.4 %

RMD opened at $236.40 on Thursday. The firm’s 50 day simple moving average is $238.87 and its two-hundred day simple moving average is $238.30. The company has a market capitalization of $34.72 billion, a PE ratio of 27.91, a PEG ratio of 1.57 and a beta of 0.70. ResMed Inc. has a 1-year low of $170.56 and a 1-year high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, equities analysts forecast that ResMed Inc. will post 9.44 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. ResMed’s dividend payout ratio is presently 25.03%.

Wall Street Analyst Weigh In

RMD has been the topic of several research reports. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. KeyCorp boosted their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Stifel Nicolaus began coverage on ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average price target of $244.73.

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the sale, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,307 shares of company stock worth $4,403,180 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.

ResMed 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.