30,141 Shares in ResMed Inc. (NYSE:RMD) Bought by Simplify Asset Management Inc.

Simplify Asset Management Inc. bought a new position in shares of ResMed Inc. (NYSE:RMD) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,141 shares of the medical equipment provider’s stock, valued at approximately $6,893,000. ResMed accounts for about 0.3% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 17th largest holding.

Several other hedge funds have also modified their holdings of RMD. Harbor Advisors LLC purchased a new stake in shares of ResMed in the 4th quarter valued at approximately $343,000. Fox Run Management L.L.C. purchased a new stake in shares of ResMed in the fourth quarter valued at $903,000. KLP Kapitalforvaltning AS acquired a new stake in shares of ResMed in the fourth quarter worth $20,411,000. Hillsdale Investment Management Inc. grew its holdings in shares of ResMed by 3.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 3,270 shares of the medical equipment provider’s stock valued at $748,000 after buying an additional 100 shares in the last quarter. Finally, Sei Investments Co. raised its position in ResMed by 300.5% during the fourth quarter. Sei Investments Co. now owns 153,525 shares of the medical equipment provider’s stock valued at $35,110,000 after buying an additional 115,192 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $229.20, for a total value of $1,835,662.80. Following the sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $104,394,182.40. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total transaction of $455,420.00. Following the transaction, the director now owns 75,218 shares of the company’s stock, valued at approximately $17,127,890.78. This represents a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,940 shares of company stock valued at $9,164,385 over the last ninety days. 0.71% of the stock is owned by company insiders.

ResMed Stock Down 0.6 %

RMD opened at $219.77 on Friday. The business has a 50 day moving average of $234.91 and a 200-day moving average of $239.02. The stock has a market capitalization of $32.28 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 1.53 and a beta of 0.74. 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 Inc. has a 1-year low of $172.19 and a 1-year high of $263.05.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating 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%. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.96%. ResMed’s payout ratio is 25.03%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RMD. KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley initiated coverage on shares of ResMed in a research note on Wednesday. They issued an “overweight” rating and a $280.00 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Stifel Nicolaus lowered their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Finally, StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Saturday, March 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $246.83.

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.