10,005 Shares in ResMed Inc. (NYSE:RMD) Acquired by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC bought a new position in ResMed Inc. (NYSE:RMD) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,005 shares of the medical equipment provider’s stock, valued at approximately $2,288,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in ResMed during the fourth quarter valued at about $118,605,000. Geode Capital Management LLC grew its stake in shares of ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after purchasing an additional 380,383 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of ResMed by 60.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock worth $152,973,000 after purchasing an additional 250,746 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in ResMed by 726.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after purchasing an additional 249,454 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in ResMed during the fourth quarter worth approximately $50,364,000. 54.98% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,940 shares of company stock worth $9,164,385 in the last three months. 0.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on RMD. Stifel Nicolaus dropped their price target on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Morgan Stanley assumed coverage on ResMed in a report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 target price for the company. Piper Sandler increased their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group started coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $249.73.

ResMed Stock Down 1.2 %

ResMed stock opened at $219.85 on Friday. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05. 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 firm has a market cap of $32.29 billion, a PE ratio of 25.96, a P/E/G ratio of 1.53 and a beta of 0.74. The firm’s 50 day moving average price is $233.70 and its two-hundred day moving average price is $238.13.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share 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%. On average, research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

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

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.