SRN Advisors LLC Buys New Stake in ResMed Inc. (NYSE:RMD)

SRN Advisors LLC purchased a new position in shares of ResMed Inc. (NYSE:RMD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 986 shares of the medical equipment provider’s stock, valued at approximately $225,000.

Other institutional investors also recently made changes to their positions in the company. Peak Financial Advisors LLC purchased a new stake in ResMed during the 4th quarter worth about $2,972,000. Principal Financial Group Inc. boosted its stake in shares of ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after purchasing an additional 5,284 shares during the last quarter. Spire Wealth Management boosted its stake in shares of ResMed by 11.3% during the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after purchasing an additional 1,100 shares during the last quarter. Retireful LLC purchased a new stake in shares of ResMed during the third quarter worth about $742,000. Finally, Asset Management One Co. Ltd. raised its position in shares of ResMed by 2.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock valued at $14,105,000 after buying an additional 1,629 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of analyst reports. Stifel Nicolaus assumed coverage on shares of ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 target price on the stock. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. KeyCorp lifted their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group began coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

Insider Buying and Selling at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the business’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 transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,147 shares of company stock valued at $2,905,745 over the last three months. 0.71% of the stock is owned by company insiders.

ResMed Stock Down 0.7 %

RMD opened at $234.46 on Thursday. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05. The firm has a 50 day moving average price of $237.15 and a 200 day moving average price of $239.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The company has a market cap of $34.43 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

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.