ResMed Inc. (NYSE:RMD) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its stake in shares of ResMed Inc. (NYSE:RMD) by 157.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,017 shares of the medical equipment provider’s stock after purchasing an additional 3,678 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in ResMed were worth $1,376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of RMD. True Wealth Design LLC raised its stake in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of ResMed in the fourth quarter worth about $39,000. BankPlus Trust Department acquired a new position in ResMed during the fourth quarter worth about $44,000. Rosenberg Matthew Hamilton purchased a new stake in ResMed during the 4th quarter valued at about $54,000. Finally, SBI Securities Co. Ltd. acquired a new stake in ResMed in the 4th quarter valued at about $67,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RMD. Stifel Nicolaus dropped their price target on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. KeyCorp lifted their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $246.83.

ResMed Price Performance

RMD opened at $219.77 on Friday. The firm has a market cap of $32.28 billion, a price-to-earnings ratio of 25.95, a PEG 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. The stock’s 50-day moving average price is $234.91 and its 200 day moving average price is $239.06. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping 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 expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

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

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 value of $1,896,290.93. Following the sale, the chief executive officer now directly 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 sale 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 the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the transaction, the insider now 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. In the last quarter, insiders sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is currently owned by company insiders.

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.