Alliance Wealth Advisors LLC UT Raises Stock Holdings in ResMed Inc. (NYSE:RMD)

Alliance Wealth Advisors LLC UT boosted its stake in ResMed Inc. (NYSE:RMD) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,567 shares of the medical equipment provider’s stock after purchasing an additional 88 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in ResMed were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Handelsbanken Fonder AB raised its position in shares of ResMed by 22.5% during the 4th quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock valued at $12,088,000 after buying an additional 12,899 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of ResMed by 13.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock valued at $7,781,000 after purchasing an additional 5,517 shares during the last quarter. Vaughan David Investments LLC IL purchased a new position in shares of ResMed during the 4th quarter valued at about $29,322,000. International Assets Investment Management LLC lifted its position in ResMed by 11,960.3% in the 4th quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider’s stock worth $3,817,000 after buying an additional 22,007 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in ResMed by 33.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 72,893 shares of the medical equipment provider’s stock worth $12,539,000 after buying an additional 18,368 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Up 18.9 %

Shares of NYSE:RMD traded up $34.64 during midday trading on Friday, reaching $218.06. The company’s stock had a trading volume of 4,330,840 shares, compared to its average volume of 1,052,924. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $187.07 and a 200-day moving average of $172.12. The firm has a market capitalization of $32.07 billion, a P/E ratio of 33.50, a PEG ratio of 2.68 and a beta of 0.67. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $243.52.

ResMed (NYSE:RMD) last announced 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 business 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 24.92%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.68 earnings per share. On average, research analysts anticipate that ResMed Inc. will post 7.52 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 annualized dividend and a yield of 0.88%. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

Wall Street Analyst Weigh In

Several analysts have weighed in on RMD shares. Mizuho reissued a “buy” rating and issued a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. UBS Group boosted their target price on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Royal Bank of Canada lifted their price target on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday. Needham & Company LLC increased their price objective on ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research note on Friday. Finally, KeyCorp lifted their target price on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.80.

Insider Buying and Selling at ResMed

In related news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,216 shares of company stock valued at $2,046,617. Company insiders own 1.21% of the company’s stock.

ResMed Company 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.