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

Avestar Capital LLC lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,189 shares of the medical equipment provider’s stock after acquiring an additional 84 shares during the period. Avestar Capital LLC’s holdings in ResMed were worth $272,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. True Wealth Design LLC raised its holdings in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares during the period. Ashton Thomas Securities LLC purchased a new position in ResMed in the third quarter valued at approximately $34,000. Rosenberg Matthew Hamilton purchased a new position in ResMed in the fourth quarter valued at approximately $54,000. Capital Performance Advisors LLP purchased a new position in ResMed in the third quarter valued at approximately $60,000. Finally, Kentucky Trust Co purchased a new position in ResMed in the fourth quarter valued at approximately $82,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ResMed news, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the sale, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares in the company, valued at $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,307 shares of company stock valued at $4,403,180 over the last 90 days. 0.71% of the stock is owned by company insiders.

ResMed Stock Performance

ResMed stock opened at $232.93 on Friday. The company has a market cap of $34.21 billion, a PE ratio of 27.50, a P/E/G ratio of 1.57 and a beta of 0.70. The company has a fifty day moving average price of $238.68 and a two-hundred day moving average price of $238.30. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05.

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

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

Analyst Upgrades and Downgrades

Several research firms recently commented on RMD. Piper Sandler raised their price target on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. KeyCorp increased their price objective on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Stifel Nicolaus initiated coverage on shares of ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

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.