Occidental Asset Management LLC Purchases Shares of 1,453 ResMed Inc. (NYSE:RMD)

Occidental Asset Management LLC acquired a new position in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,453 shares of the medical equipment provider’s stock, valued at approximately $332,000.

Several other large investors have also recently modified their holdings of RMD. American Century Companies Inc. boosted its stake in ResMed by 17.7% in the second quarter. American Century Companies Inc. now owns 30,874 shares of the medical equipment provider’s stock valued at $5,910,000 after acquiring an additional 4,639 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of ResMed by 19.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after purchasing an additional 107,279 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in ResMed by 45.4% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,035 shares of the medical equipment provider’s stock worth $581,000 after buying an additional 948 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in ResMed by 11.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 20,588 shares of the medical equipment provider’s stock worth $3,895,000 after buying an additional 2,175 shares during the last quarter. Finally, Ieq Capital LLC increased its position in ResMed by 4.8% during the 2nd quarter. Ieq Capital LLC now owns 12,266 shares of the medical equipment provider’s stock valued at $2,348,000 after buying an additional 563 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of NYSE RMD opened at $239.89 on Friday. The company has a market capitalization of $35.22 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The company’s fifty day moving average price is $238.51 and its 200 day moving average price is $232.47. ResMed Inc. has a 1 year low of $170.39 and a 1 year high of $260.49.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company posted $1.64 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts predict that ResMed Inc. will post 9.36 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.88%. The ex-dividend date was Thursday, November 7th. ResMed’s payout ratio is currently 28.08%.

Analyst Ratings Changes

Several brokerages have weighed in on RMD. Piper Sandler began coverage on ResMed in a report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price target for the company. The Goldman Sachs Group started coverage on shares of ResMed in a research report on Thursday. They set a “buy” rating on the stock. Baird R W raised shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Bank of America boosted their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, KeyCorp raised their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ResMed has an average rating of “Hold” and a consensus target price of $233.09.

Insider Activity

In other news, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the sale, the insider now owns 21,718 shares in the company, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now directly owns 81,218 shares of the company’s stock, valued at $19,951,201.70. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,099 shares of company stock worth $2,719,385 over the last three months. 0.71% of the stock is currently owned by corporate insiders.

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.